USDINR
Welcome to Volatile Friday, The USDINR is likely to commence the session with a mild weaker note between 75.10 – 75.20 levels as worries about escalating Russia-Ukraine tensions that could have economic repercussions worldwide.
The safe-haven Japanese yen and Swiss franc climbed to two-week peaks against the U.S. dollar.
USA Treasuries rallied with the benchmark 10-year yield downs seven basis points (bps) overnight and two more in early Tokyo trade to 1.9493%. Two-year yields were also down 2 bps to 1.4436% in the Asia trade.
U.S. President Joe Biden said on Thursday there was now every indication Russia was planning to invade Ukraine in the next few days and preparing a pretext to justify it, after Ukrainian forces and pro-Moscow rebels traded fire in eastern Ukraine. Russia also accused Biden of fueling tension and released a strongly worded letter that said Washington was ignoring its security demands and threatened unspecified "military-technical measures."
UAE de facto ruler Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi will witness the signing of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), UAE state news agency WAM and several Indian newspapers reported.
Indian shares closed lower in volatile trading on Thursday as tensions over Ukraine outweighed the impact of the U.S. Federal Reserve's less-than-feared hawkish stance, reflected in the minutes of its last policy meet.
Day Trend: - BUY ON DIP
INTRADAY RANGE – 75.33(75.16-75.00)74.83
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