USDINR slipping into the 74.9 or 74.3 in a worst case scenario - Geojit Financial Services
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* USD/INR on highs as omicron spread rate and vaccine doubts hit the risk sentiment.
* India GDP grew 8.4% in Jul-Sep as lockdowns eased.
* 10 Year US treasury yields slip as the fear of omicron variant spreads with concerns over the efficiency of vaccines and Powell's indication on acceleration of asset tapering.
* WTI oil futures fell by 4.95% and Brent by 4.88% after the statement made by Moderna’s chief on doubts regarding the efficiency of COVID-19 vaccine on Omicron variant.
* Gold price declined after Jerome Powell's statement on sustained inflation due to economic slowdown caused by omicron COVID-19 variant.
OUTLOOK - USDINR
The 75.2 objective having almost tested yesterday as well as the day before, a consolidation is now in place, which could see USDINR slipping into the 74.9 or 74.3 in a worst case scenario.
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
