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News Box

* USDINR closed 28 paise lower at 72.90 yesterday

* India manufacturing PMI hits 10 month low at 50.8 vs 55.5 previous

* RBA leaves rates unchanged for th straight session as Q1 gdp 1.8% vs 1.5% expected

* Covid variant fears knock pound off its 3 year high

* BoJ board member Adachi: There is very high uncertainty on Japans economic outlook

* Canada gdp growth for March at 1.1% vs 1% expected vs 0.4% previous

OUTLOOK - USDINR

Rupee opened 9 paise higher at 72.53 from its previous close against the US dollar and it finally closed a net 28 paise lower at 72.90 yesterday. USDINR had gained as far as the intraday high of 72.53 and fell to an intraday low of 72.94. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.1% and closed at 89.92. Brent crude futures rose 1.64% to trade at $70.83/barrel. USDINR near futures are at 73.1650 with the next support seen at 72.8867 and next resistance seen at 73.3317 ahead of market opening today.

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