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Indian rupee traded low on Thursday owing to uncertainties and fears over omicron variant, along with a rise in the dollar index

Crude oil futures rose following OPEC+ decision to review supply additions ahead of its next scheduled meeting if the Omicron variant hits demand. .

Gold continues to be under pressure, reaching four-week low.

10 Yr. US treasury yields remained steady on Thursday amidst omicron variant fears.

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OUTLOOK - USDINR

Consolidation continues as expected. Favoured view continues to see the potential for a retest of the October peak of 75.53 or even 75.9. However, inability to push much above 75.27 could force USDINR to settle inside 75-74.8, which is what is unfolding at present.

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