Rupee - Dec 9, 2021 - Reliance Securities

The Indian Rupee ended weaker against the U.S. Dollar on Thursday on concerns about persistent foreign outflows from local equities and as oil prices extended their climb.

The Rupee ended at 75.52 per dollar compared with 75.45 close in the previous session.

Currently foreign investors being net sellers of Indian equities in all trading sessions since November 18, withdrawing almost $5 billion during this period.

Meanwhile, oil prices are set for a 6th daily rise lifted by optimism that the Omicron mutation might not have a significant impact on oil demand.

Asian currencies were weaker tracking a weaker Chinese yuan, while India's benchmark BSE Sensex rose 0.3%, extending a two-day winning run and capped depreciating bias.

However, all eyes turn to U.S. CPI data due tomorrow.

Indian bond yields were ended flat on Thursday with the benchmark 6.10% bond ending at 6.35%, unchanged from previous close.

Technically, the USDINR Spot pair immediate hurdle now is at 75.67 levels and a break above will push the pair to 75.83 and ultimately to 76.00 levels.

Supports are at 75.30 and 75.22.

The U.S. Dollar is trading with gains this Thursday early afternoon trade in European session.

Investors could look to cues from jobless claims data tonight.

Technically, the U.S. Dollar Index resistances are at $96.25 and $96.40. Supports are at $95.97 and $95.86.

Source : Equity Bulls

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