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News Box

* USDINR closed 9 paise lower at 74.26 yesterday

* US home sales falls for 3rd straight month by 6.6%, at its lowest since April 2020

* UK 10yr bond drop below 0.6%, its lowest since February

* China industrial profits disappoint at 66.9% vs 83.4% previous

* Flash composite PMI data shows Eurozone overtaking UK and US as best performer, Australia and Japan decline

* US consumer confidence and durable goods order puts dollar in focus today.

OUTLOOK - USDINR

Rupee opened flat at 74.35 from its previous close against the US dollar and it finally closed a net 9 paisa higher at 74.26 yesterday. USDINR had gained as far as the intraday high of 74.23 and fell to an intraday low of 74.43. The dollar index which compares the strength of the dollar against 6 major currencies closed 0.30% lower at 92.63. Brent crude futures rose 0.70% to trade at $74.87/barrel. USDINR near futures are at 74.4525 with the next support seen at 74.3783 and next resistance seen at 74.5358 ahead of market opening today.

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