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News Box

* 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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