News Box

* USDINR closed 8 paise lower at 73.42 yesterday

* Forex Reserve surges $32.29bn in six months: RBI

* US core PCE increased 0.52% MoM, 2.8% YoY in April: Goldman Sachs

* Economic data from US puts dollar in focus today

* US weekly jobless claims drop to 14 month low

* US 10yr tresury yields at 1 month high, UK 10yr bond yields at 13 month high

OUTLOOK - USDINR

Rupee opened 15paise lower at 73.49, from its previous close against the US dollar and it finally closed a net 8 paise lower at 73.42 yesterday. USDINR had gained as far as the intraday high of 73.38 and fell to an intraday low of 73.50. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.67% and closed at 90.77. Brent crude futures rosel 0.36% to trade at $69.38/barrel. USDINR near futures are at 73.5900 with the next support seen at 73.5158 and next resistance seen at 73.6733 ahead of market opening today

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