THURSDAY - RUPEE SLIP , DOLLAR STEADY & POUND FIRM ON BREXIT !!

Rupee under pressure on equity volatility increase ahead of USA election , USDINR break important resistance 73.54/55 level, we suggest that every dip in pair will be opportunity for short term import covering , Exporters can hedge position thru option ( premium must consider ).

• On Wednesday , At interbank market, the Rupee witnessed a highly volatile trading session. It opened at 73.41, pared the gains and finally closed at 73.59 against the greenback, registering a decline of 12 pips over its previous close of 73.47.

• On the domestic equity market front, the BSE benchmark Sensex was trading 339.45 points lower at 40,204.92, and the broader NSE Nifty fell 106.80 points to 11,790.

Major Wall Street banks in India raked in their second-highest fee income since the global financial crisis in the first nine months of this year, benefitting from a flurry of private-sector deals despite the coronavirus pandemic.

INTRADAY RANGE - 73.22 ( 73.45 - 73.79 ) 74.05

GLOBAL OUTLOOKS

Greenback was up on Thursday Asian trading session, reversing losses from the previous session as the focus remains squarely on the U.S. Congress’ progress towards passing the latest stimulus measures.

• Investors now await the final presidential debate between Trump and Democrat candidate Joe Biden later in the day.

The pound steadied against the dollar, after rising to a six-week high during the previous session as U.K. chief Brexit negotiator David Frost announced the resumption of talks with the European Union. The talks will take place later in the day.

Asia Pacific stocks were under pressure on early morning after a bumpy session for U.S. markets overnight and as investors track the progress of the latest U.S. stimulus measures. Mounting U.S.-China tensions also added to investor caution.