Indian currency traded lower as a result of widening trade deficits - Geojit Financial Services
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* Indian currency traded lower as a result of widening trade deficits, strengthening US Dollar and status quo maintenance by RBI.
* WTI and Brent oil futures both traded 0.7% lower on Thursday after several Governments reimposed restrictions to control the spread of Omicron variant.
* Gold price fell following the strengthening of US Dollar and drop in US Job data and waits further for the US Inflation Data.
OUTLOOK - USDINR
Having tested the Oct peak of 75.66 and having moved far from key moving averages, it would be prudent to look for declines to 75.45 before entering longs. Intraday swing level is seen at 75.58
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
