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* Indian benchmark indices crashed for the fourth day in a row on Monday. Concerns over US inflation and the rise in Covid cases tend to have soured the market alongside large-scale exiting by FIIs.

* Jerome Powell's renomination leads to gold crashing in anticipation of the Fed tightening policies and the continuation of US dollar strengthening.

* Massive sell-offs of domestic equities, a strong greenback, rising crude prices in the international market and persistent foreign capital outflows forced the Indian Rupee downward on Monday.

* Crude oil futures recover from initial falls on Monday on reports of OPEC+ reassessing the output in response to major economies releasing reserves and rising Covid-19 leading to lowering demands.

* Renomination of Jerome Powell as Fed chairman gives an upward boost to 10 year treasury yields.

OUTLOOK - USDINR

The expansion in trading ranges anticipated yesterday, is yet to unfold. We continue to maintain such hopes though, keeping 74.82 or 75.2 in the radar. However, if unable to float above 74.3 region, upside hopes may have to be put away for a while.

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