Dollar awaits the release of the US third quarter GDP data - Geojit Financial Services
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News Box
* Indian rupee is set for losses over the week fuelled by stock market volatility and strengthening dollar.
* Dollar awaits the release of the US third quarter GDP data and the Personal Consumption Expenditure Index
* Gold entered a correction on Friday and continues to hover above the $1850 support.
* Crude oil prices fell the past week marking the fourth week of losses. Reports on inventory releases by China and the US weigh on the market sentiment.
* US bond yields dropped sharply on Friday over concerns about rising Covid-19 infections and lockdowns in Europe.
OUTLOOK - USDINR
Last week’s dull trades amid selling pressure, is likely to set aside for a wider trading range this week, with improved prospects for upsides aiming 74.82 or 75.2. However, if unable to push and float above 74.3 region, that upsides will be delayed.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
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USDINR closed 25 paise higher at 73.51 yesterday - Geojit Financial
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