USDINR WEDNESDAY OUTLOOK:- RUPEE FIRM!!

USDINR

Welcome to X-MAS week, USDINR likely to commence Wednesday session with a mild firm note between 75.65 – 75.75 levels despite dollar edged down again in early Asia, starting a third successive session under pressure as investors favoured riskier currencies and asset classes.

• Market player struggled to point to a clear reason for the "risk-on" mood, saying markets were struggling to assess the consequences of the Omicron variant of COVID-19, leading to unseasonable volatility.

On Tuesday, India told state governments to be proactive and on the lookout for surges of the Omicron coronavirus variant after cases nearly doubled within a week across a dozen states.

Indian Indices closed higher on Tuesday after tumbling as much as 3% in the previous session, led by a surge in information technology and metal stocks, though fears over surging Omicron COVID-19 cases trimmed gains.

• SoftBank-backed Indian e-commerce platform Snapdeal filed for an initial public offering on Tuesday, joining dozens of firms in the country that have tapped the capital markets this year.

New Zealand delayed the planned reopening of its international border because of the sweeping spread of Omicron around the world.

Day Trend: - UPSIDE SELL

INTRADAY RANGE – 76.17(75.82 – 75.48)75.13