ICICI Direct, The US dollar fell 0.01% yesterday as senator Joe Manchin said he would not support $ 1.75 trillion domestic investment bill.
December 21, 2021 / 08:39 AM IST
Tega Industries IPO
ICICI Direct’s currency report on USDINR
The US dollar fell 0.01% yesterday as senator Joe Manchin said he would not support $ 1.75 trillion domestic investment bill. However, a sharp fall was cushioned on risk aversion in the global markets and surge in US treasury yields. Market sentiments were hurt on fears that fast spreading Omicron variant may push governments across the globe to impose restrictions, which could derail the global economic recovery • Rupee future maturing on December 29 appreciated by 0.22% on softening crude oil prices. However, sharp gains were prevented on a strong dollar and selloff in global markets • The rupee is expected to appreciate on a decline in crude oil prices and soft dollar. However, sharp gains may be prevented on risk aversion in the global markets and persistent FII outflows. Market sentiments were hurt on fears that new series of restrictions to slow down the spread of new variant will hurt the global economic recovery.
Intra-day strategy
| US$ INR December futures contract (NSE) | |
| Sell USDINR in the range of 75.88-75.90 | |
| Target: 75.60 | Stop Loss: 76.05 |
| Support: 75.70/75.60 | Resistance: 76.05/76.15 |
Disclaimer:
Read More
