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News Box

* Indian rupee retreated and settled at 74.55 as Treasury yields boost the US Dollar.

* Gold price bounced back as Omicron cases and inflation soar. Rise of the metal was hindered by hawkish Fed expectations, rising US yields and modest US Dollar strength.

* Crude oil prices rose on Tuesday. OPEC+ has agreed to increase the output from February due to pressure from the US and no major new Covid restrictions.

* 10 Yr. US treasury yields ticked up to 1.66% as US job data for Nov revealed higher turnover and lower job openings rate compared to the previous month.

OUTLOOK - USDINR

The pull back evolved yesterday on anticipated lines, though it did not fully achieve the 74.8-75 objectives. We will continue to retain hopes of the same, as long as 74.4 holds. Further, as maintained yesterday, inability to do so could call for 73.82, but a major fall is less expected.

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