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News Box

* USDINR fell for a sixth consicutive day and closed 4 paise lower at 73.31 yesterday

* Dollar holding near 1 month high as focus turns to Feds inflation data

* Australia's central bank shows willingness to extend bond purchase progrem to next month

* US inflation expectation remain in recovery mode, stronger in near and medium term ahead of FOMC meeting today

* India trade deficit at $6.28bn vs 6.32bn expected vs 3.51bn from an year ago

OUTLOOK - USDINR

Rupee opened 7 paise higher at 73.20 from its previous close against the US dollar and it finally closed a net 4 paise lower at 73.31 yesterday. USDINR had gained as far as the intraday high of 73.16 and fell to an intraday low of 73.33. The dollar index which compares the strength of the dollar against 6 major currencies rose 0.01% and closed at 90.51. Brent crude futures rose 1.55% to trade at $74.42/barrel. USDINR near futures are at 73.4350 with the next support seen at 73.3200 and next resistance seen at 73.5000 ahead of market opening today.

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