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* WTI Crude oil futures rose by 1.42% while Brent futures retreated from their three-day rally by 1.17%. The market was mostly influenced by concerns over Omicron variant and anticipation over the outcome of the OPEC+ meeting scheduled on Jan 4th to decide upon production levels.

* Gold rose for the second week in a row supported by a weaker dollar. The price on Friday remained almost flat in the international market with a bullish bias which is expected to continue the upcoming week.

* Indian rupee surged up and settled at 74.90 on Friday and the rise is expected to extend to this week backed by fresh IPO inflows and lower oil prices.

* 10 yr US treasury yields were pushed up by abating omicron fears and the hawkish outlook of the Federal Reserve.

OUTLOOK - USDINR

The bounce towards 75.2 unfolded on Friday, as anticipated, but could not sustain. The subsequent close near the day’s low confirms that the bearish bias continues to dominate. However, favoured view expects 74.82 to hold for the time being, for yet another attempt to push higher towards 75.2 or 75.35.

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