Softer than expected US inflation numbers had taken some strength out of US dollar yesterday - Geojit Financial Services Ltd
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The rupee closed at73.44, the strongest close in 6 days.
Softer than expected US inflation numbers had taken some strength out of US dollar yesterday.
Dollar index fell 0.17% to 92.46 Brent, the global oil benchmark, is trading 0.2% down, after rising over 3.4% yesterday, and pushing above 76 for the first time since July.
FIIs bought 232.84 crore rupees net in equities yesterday, pushing benchmark indices to new record peak.
OUTLOOK - USDINR
The rise anticipated yesterday did unfold, but could not extend beyond 73.7370 and the subsequent long liquidation has brought USDINR to our downside risk level of 73.47. This hints at a test of recent low of 73.3680 as long as 73.53 holds upsides. Direct fall below 73.28 would firmly put the cross in a downside trajectory.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
