On Wednesday , USDINR likely to start fresh session with in range between at 72.90-72.98 levels. Rupee stuck in tight range between 72.85 - 73.05 levels against greenback as Domestics Unit getting support from FII inflows on growth prospective but we must concern on 10yr Government Yields trading at 6.12%, after budget its jump 3.12%.
INTRADAY RANGE - 72.74 ( 72.88 - 73.06 ) 73.19
The Canadian dollar strengthened 0.3% to 1.2806 against greenback(78.08 U.S. cents), having traded in a range of 1.2781 to 1.2869.
Canada runs a current account deficit and is a major exporter of commodities, including oil, so the loonie tends to be sensitive to the global flow of trade and capital.
The Canadian dollar strengthened against its U.S. counterpart and the other G10 currencies on Tuesday, as oil prices climbed to a one-year high and the prospect of more U.S. economic stimulus bolstered risk appetite.
On Wednesday , Oil rose in early trade on expectations global oil stocks will fall back to more normal levels this year, market was buoyed by the latest assessment by the Organization of the Petroleum Exporting Countries and allies, together known as OPEC+, that oil stockpiles will decline to below a five-year average by June.
That showed the producers' output cuts were succeeding in bringing the market back into balance.
Asia Pacific stocks were mixed on early Asian session . The previous week’s retail trading that fueled volatility in heavily shorted shares stabilized, companies reported better-than-estimated revenue and progress was made in passing more U.S. stimulus measures, which all helped boost sentiment However, this was damped by disappointing data from China.
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