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• Brent and WTI crude oil futures went up on Thursday, amid covid fears, as US oil inventories dropped and an upbeat Fed boosted demand.

• The weakening of US Dollar pushed up gold prices as the Federal Reserve aims at interest rate hikes in 2022.

• 10 Year US treasury yields slipped on Thursday after the Fed meeting and subsequent weakening of US Dollar.

• Indian rupee moved up and settled at 76.2 following the weakening of US Dollar

OUTLOOK - USDINR

The close near 76.2 retains a positive bias, keeping our hopes towards the anticipated move towards 76.8. Inability to stay afloat above 76.2 could dent the upside momentum. Major falls are less expected, but given the recent expansion in trading ranges, the supports are found deep at 75.6.

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