Indian rupee closed on a flat note as investors noted rising crude oil prices - Geojit Financial Services
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Crude oil futures extended their rise on Tuesday with the fears over the omicron variant settling down, also supported by the price hike by Saudi Arabia.
Gold price rose in anticipation of easing impact of omicron variant but continues to be in a bearish mode. Gold awaits the Friday US inflation data release for a further move.
Indian rupee closed on a flat note as investors noted rising crude oil prices and sustained foreign capital outflows.
10 Year US treasury yields rose again on Tuesday after the concerns regarding the omicron variant eased.
Investors await the outcome of the RBI and MPC monetary policy discussions meeting today.
OUTLOOK - USDINR
Upside momentum is missing, but it is not surprising. We did acknowledge the possibility of 75.8 objective not being achieved in a hurry. Expect more consolidation, with 75.15 as the downside marker.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
