On Wednesday , USDINR finding support near old resistance (72.26) , we are expecting pair commence session within range between 72.53 - 72.61 levels. Ahead of FOMC outcome today as well as technical setup pair will get bids in lower levels. Last 2-3 trading session USDINR detached from correlation with equity market as well as dollar index.
Last Intraday session USDINR advance 0.39% , pair opened at 72.50/51 , hit lows at 72.3675/3775 then bounced back up to session high at 72.6475/72.6575 before finished session at 72.55/56 levels.
New Delhi was the world’s most polluted capital for the third straight year in 2020, according to IQAir, a Swiss group that measures air quality levels based on the concentration of lung-damaging airborne particles known as PM2.5.
INTRADAY RANGE - 72.15 ( 72.43 - 72.71 ) 72.99
Note :- Importers must evaluate short to medium term exposure, Exporters intact with Option strategies.
GLOBAL OUTLOOKS
Asian Indices were mostly lower on early Asia following a sell-off in U.S. stocks, as investors awaited the Federal Reserve's meeting and whether the central bank will maintain near-zero interest rates amid the economy's post-pandemic recovery.
Dollar index stood at 91.90, having risen for the last 3 sessions, drawing support mainly from elevated U.S. bond yields on the back of expectations of a strong economic recovery.
A bigger question for market players is whether the Fed will signal any inclination to start raising interest rates in 2023, earlier than it has previously said, in a move that could fuel a further rally in the dollar.
EURUSD changed hands at $1.1902, having declined over the last three days, with immediate supports at its 200-day MA of $1.1842 and last week's 3 1/2-month low of $1.1835.
Delay in vaccinations could weigh on the common currency as Sweden and Latvia joined countries suspending their use in a further blow to Europe's vaccination rollout.
Europe's medicines watchdog will release results of its investigation into incidents of bleeding, blood clots and low platelet counts in recipients of AstraZeneca coronavirus vaccine on Thursday afternoon.
Pound Australian Dollar Exchange Rate Tumbles despite ‘Aussie’ Weakness The AUD was a little weaker today, but the GBP/AUD exchange rate still trended lower. Investors have been selling the GBP on fresh Brexit uncertainty and Bank of England anticipation.
Oil prices slipped for a fourth session on worries about rocky demand in Europe, even as hopes of a recovery in U.S. refinery activity were boosted by industry data that showed U.S. crude stockpiles unexpectedly fell last week.
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