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News Box

* Fed forecasts 3 rate hikes for next year.

* US retail sales increased by 0.3%, lower than expected, in November.

* Gold price reached the lowest of this December ahead of the FOMC.

* Indian rupee fell against US Dollar resulting from the fall of the Indian stock market, continued Foreign Fund outflows and, risk averse sentiments

* Crude oil futures extended their fall for the third consecutive day in fears of Omicron Variant. IEA stated that the demand for Oil in 2022 will be lower than expected.

* 10 Year US treasury yields remained mostly steady with a slight upward movement ahead of the Fed meeting.

OUTLOOK - USDINR

The march towards 77 objective continues and yesterday’s moves far exceeded our first objective of 76.2. The downside marker is hitherto pushed to 76.2, and the upside target to 76.8

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