RUPEE OPENED AT 72.16/17

Indian currency favorable mode on overnight sharp 7.14% Correction US West Texas Intermediate (WTI) crude oil futures were at USD 55.66 per barrel, while brent crude oil was trading around USD 65 per barrel. USDINR opened 40 pips gain @ 72.16/17 after yesterday closing at 72.66/67 levels. The Reserve Bank of India will buy 120 billion rupees ($1.65 billion) of government bonds on Thursday via open market operations.

INTRADAY RANGE - (71.95 - 72.20) 72.40

Intraday events that Impact On Rupee

1. CRUDE AND BRENT OIL MOVEMENT

2. NIFTY MOVEMENT

3. BREXIT

4. YUAN DEFENDING 6.97 LEVELS

GLOBAL MARKET SENTIMENT​

1. The dollar index .DXY, a gauge of its value versus six major peers traded at 97.03 on Wednesday, down 0.28 percent. The index hit a 16-month high of 97.69 on Monday.

2. EUR/USD has rallied through the 1.13 handle in thin liquidity in Asia.

3. AUD/USD has rallied from the 0.7180 and scored a fresh high in early Asia.

4. The People's Bank of China (PBOC) set the yuan reference rate at 6.9402 vs the previous day's fix of 6.9629.

5. The New Zealand Dollar may struggle to find upside follow-through against its US namesake despite seemingly bullish near-term technical positioning.

6. The EUR/JPY is better bid at 128.78, having witnessed a falling channel breakout on the hourly chart yesterday.

7. China’s housing ministry said on Wednesday investment in a massive shantytown redevelopment project topped 1.5 trillion yuan ($215.88 billion) in the first ten months of the year.

8. China reported a mixed bag of economic data for October on Wednesday, but industrial output and investment grew faster than expected, suggesting a flurry of support measures may be starting to take hold.