On Wednesday , Rupee likely to commence between 72.90 / 73.00 against greenback as dollar index remained lower against major rivals after pulling back from multi-month highs as a retreat in Treasury yields reduced the currency's appeal. USDINR stuck in range between 72.68 - 73.48 levels, near 73.48-73.58 levels pair find resistance as well as at 72.59-72.74 we had witnessed strong support.
Last trading session , USDINR opened at 73.19/20 levels and manage to bounce up to 73.25/26 levels, but pair find stiff resistance near intraday high. Pair hit intraday lows at 72.9125/72.9250 levels before finished at 72.92/93 levels.
INTRADAY RANGE - 72.45 ( 72.75 - 73.15 ) 73.47
Riskier currencies including the Australian and New Zealand dollars held overnight gains as the pause in the bond market rout of recent weeks boosted investor sentiment, which also lifted stocks.
Oil ticked higher, after falling for two straight sessions, with investors looking ahead to U.S. inventories data due later in the day for pointers on where prices will head next.
U.S. crude production is still expected to fall by 160,000 barrels per day in 2021 to 11.15 million bpd, the EIA said on Tuesday, but that's a smaller decline than its previous monthly forecast for a 290,000-bpd drop.
Asian indices advance taking clue from U.S. gains on overnight, as falling bond yields eased concerns about surging inflation, although focus will shift to Chinese markets amid worries about policy tightening in the world's second-largest economy.
With eyes on the $120 billion auctions of 3-, 10- and 30-year Treasuries this week, U.S. Treasury yields fell after a weak 7-year note sale that prompted a spike in yields two weeks ago was followed by another soft auction last week.
Tuesday's auction of $58 billion in U.S. 3-year notes was well received, with the next tests of investor appetite for government debt in the form of 10-year and 30-year auctions later this week.
JPMorgan Chase has designed a new debt instrument that provides investors direct exposure to a basket of crypto-focused companies, according to a new filing with the United States Securities and Exchange Commission.
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