Globally,
US equity markets recovered a bit after release of durable goods order data,
which grew sharply by 15.8% m-o-m on a lower base. US dollar rebounded above 97
levels, gains in US dollar were further supported by concerns of second wave of
covid cases. German consumer climate released at -9.6 against previous reading
of -18.6.
On
domestic front, Government bonds are trading with weakening bias as benchmark
10 year bond yield spiked to 5.91%. Indian rupee is trading with strengthening
bias amid expectation of inflow of Jio-Facebook deal. Technically, USDINR pair
has strong support near 75.40-75.45 levels, a break below might lead the pair
to 75.00. USDINR pair immediate resistance at 75.85 levels.
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