IGI Logo

News Box

• Gold prices retreated on Monday resulting from the strengthening of US Dollar and rising 10 yr. US Treasury yields.

• Rupee cut back previous losses and inched higher following stronger domestic equities though the Dollar index also remained positive.

• Crude oil prices rose supported by tightening supply and recovering demand. OPEC+ meeting may result in an output hike announcement.

• 10 Yr. US treasury yield rose to 6-week high as investors assessed Omicron spread, inflation, and faster policy tightening by the Fed. Interest rate hikes are expected by the end of asset tapering procedures.

• India’s Markit manufacturing data says the manufacturing sector is rising however on a slow pace.

OUTLOOK - USDINR

Prospects of a pull back to 74.8-75 will increase if USDINR continues to consolidate like yesterday. Alternatively, inability to float above 74.4, could call for 73.82.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 

SEBI Registration Number: INH200000345

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer