USDINR TUESDAY OUTLOOKS: - RUPEE COULD GET SOME CUSHION FROM OIL CORRECTION !!
- fxmethods
- Aug 3, 2021
- 1 min read
USDINR
USDINR stuck in a range, We are expecting Domestic unit likely to commence Monday session with a firm note between 74.28 – 74.38 levels as dollar subdued as delta variant spreading and Oil price correct 3% overnight on demand concern.
Factory activity in India bounced back in July as demand surged both at home and abroad, prompting companies to create new jobs for the first time since the onset of the pandemic, a private sector survey showed.
The Manufacturing Purchasing Managers' Index, compiled by IHS Markit, jumped to 55.3 last month from 48.1 in June, well above 50-level separating growth from contraction.
SoftBank Group-backed online insurance aggregator Policybazaar has filed for an initial public offering of up to 60.18 billion rupees ($809.36 million), joining a string of Indian startups that have tapped capital markets in recent months.
The chairman of Maruti Suzuki India's top-selling carmaker said “use of hydrogen power for mobility is an "interesting alternative" for India, especially as it would reduce dependence on lithium imports”.
Day Trend: - RANGE.
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