Crude oil rises due to a reduction in production, and the IEA’s demand outlook is awaited

Oil prices increased on Friday as supplies tightened and Russian production appeared to be declining. The market was anticipating the IEA’s monthly report, which would provide more insight into the forecast for global demand, later in the day. The price of Brent crude futures had increased by 34 cents, or 0.39%, to $86.43 per barrel….

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Asian stocks rose on optimism that the Fed would take a cautious approach to future hikes.

After Wall Street reversed losses on Friday, Asian equities increased on expectations of a strong economic recovery in China and hints of a moderate U.S. Federal Reserve policy tightening stance. Strong U.S. data from recent weeks, particularly overnight U.S. unemployment claims, have roiled global markets and signalled that the Fed will need to hike rates…

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As crude oil prices decline, the rupee strengthens 12 paise to 82.08 against the US dollar.

Early on Friday, the rupee strengthened 12 paise to 82.08 against the US dollar, helped by falling crude oil prices and an uptick in domestic equities. Significant dollar demand from importers and significant outflows of foreign funds, according to forex traders, could weigh on the local currency and limit its tendency to appreciate.The domestic currency…

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Sharp strengthening of the rupee is unlikely in the immediate future, and CPI inflation in the US and India is being monitored.

The rupee fluctuated between 82.90 and 82.45 during this week of consolidation. After a lacklustre December month, last week was tumultuous as we witnessed a fall and recovery in the spot USDINR. Since other EM currencies began to gain strength versus the dollar, now is the ideal opportunity to go short in the pair as…

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