USDINR
On Wednesday, USDINR is near the resistance level, We are expecting that pair commence session between 75.35 – 75.45 levels as US Dollar Index (DXY) steps back from the week’s high, pressured around intraday low near 96.25 during Wednesday’s Asian session. The greenback gauge tracks US Treasury yields to the south amid fresh challenges to the market sentiment, as well as due to the absence of major catalysts at home.
On Tuesday, Indian shares ended more than 1.5% higher, with banking and metal stocks bouncing back from the previous session after fears about the potential severity of the Omicron coronavirus variant eased.
Proposed legislation that would ban the use of cryptocurrencies as a method of payment in India also seeks to make those who infringe the law subject to arrest without a warrant and being held without bail, according to a source and a summary of the bill seen by Reuters.
The Russian oil producer said in a press release on its website, Rosneft has signed a deal to supply refiner Indian Oil Corp with up to 2 million tonnes of crude next year.
Day Trend: - HOLD (UPSIDE SELL)
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