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According to the UBS Billionaire Ambitions Report 2022, India has emerged as oneof theworld'sleading investment locations for billionaires. The analysis is based on UBS Evidence Lab surveys,inquiries, and data on over 2,500 billionaires from 75 markets.

According to a report created by the Confederation of Indian Industry (CII) and Price Water house Coopers, India has achieved self-reliance, or "aatmanirbharta," in the sectors oftextiles and clothing, food products, iron and steel, and transportation, but still lags behind in themachinery, electronics, and plastics sectors (PwC).

The interim free trade deal between India and Australia will enter into force on Thursday, allowingthousands of Indian items, such as textiles and leather, duty-free access to the Australian market.According to exporters and industry participants, the pact will nearly treble bilateral trade to USD45-50 billion in five years.

The yield on the 10-year US Treasury note climbed on Wednesday as investors worried abouteconomic growth and monetary policy direction in 2023. The yield on the 10-year Treasury notejumped by more than one basis point to 3.875%. The 2-year Treasury note yield fell by one basispoint and was last trading at roughly 4.353%.

According to the National Association of Realtors, pending home sales in the U.S decreased 4.0% ona monthly basis in November. The decline occurred when prospective purchasers were uneasy dueto high mortgage rates.

OUTLOOK - USDINR

Upside momentum failed to emerge as 82.84/88 has continued to be a supply zone. We will still look for 83.25 should there be another breach beyond the 82.88 region, while 82.75-82.59 would be a sideways band.

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