Perspective note on rupee 03 December 2021 By Emkay Global Financial Services
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Below is Perspective note on rupee 03 December 2021 By Currency Desk of Emkay Global Financial Services
“This week omicron woes kept the USDINR spot afloat, and now the focus is on tonight’s US non-farm payrolls report. It is a big data to digest before the Fed policy as it will help gauge the state of US employment and will carry some implication on this policy outcome. A big NFP figure will push USDINR higher along with the safe-haven demand if Omicron concerns rise. But next week, we have RBI policy and a likely tightening by raising the reverse repo rate may limit any rise in USDINR spot. So we expect USDINR spot to continue oscillating in between 74.70-75.50. As long as it trades above 74.70, it will continue the uptrend.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
