US equities slipped from record highs, with consumer confidence falling to a six month low - Geojit Financial
News Box
* Rupee strengthened 29 paise to close near 73 yesterday, making it the fourth straight session of gains that has amounted to 124 paise during this period.
* Senses, Nifty hit record highs on dovish US Fed comments.
* FIIs bought 3881.16 cr of net Indian equities yesterday.
* Brent crude futures, the global oil benchmark fell 0.83 percent to USD 72.8 per barrel
* US dollar was steady, but hawkish ECB and losses in European sovereign debt has tightened US treasury yields.
* US equities slipped from record highs, with consumer confidence falling to a six month low.
OUTLOOK - USDINR
Despite the brief penetration of 73 yesterday, we are expectant of a bounce back today, aiming 73.2 or 73.4. However inability to clear 73.15 on the bounce, or a direct fall below 72.94 could ensure that the bear move that has been in play will continue towards our projected target of 72.75 or 72.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory