USDINR
Welcome to cosy Wednesday, The Domestic unit (Rupee) is most likely to commence the session with a weaker note between 75.90 – 76.00 levels as the greenback rose again in the early Asian session after rebounding from a dip that nearly wiped out its gains from the day before as markets jostled with the different paths major central banks are choosing between fighting inflation or the economic drag of the pandemic.
The rebound came largely at the euro's expense as markets digested another report of unexpectedly high U.S. inflation that could push American interest rates much higher and sooner than in Europe.
Amazon has warned India's antitrust body that revoking its 2019 deal with Future Group would send a negative signal to foreign investors and allow local retail behemoth Reliance to "further restrict competition", a legal document seen by Reuters showed.
On Tuesday, India Annual wholesale price-based inflation rose to 14.23% in November, its highest since April 2005, according to data from Refinitiv, against 12.54% the previous month, government data showed.
Indian shares fell on Tuesday, dragged down by auto and financial stocks, amid growing fears of surging inflation in the country and ahead of a series of major central bank meetings this week, including the U.S. Federal Reserve.
Day Trend: - UPSIDE BUT MARKET IN OVERBOUGHT, RBI INTERVENTION CAN GIVE CHANCE FOR - UPSIDE SELL
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