Global equity indices rallied last week with the U.S. ticking up by 2% and Europe up for 7th straight week. Asian equities followed; continuing the move today too as stocks hold on close to one-month highs.
Oil prices today fell away from last week's multi-year highs as a relentless rise in U.S. drilling activity pointed to increased output, while resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran.
The dollar held steady today, its recent rally running out of steam on the back of sinking U.S. yields as investors wound back expectations that the Fed will launch a series of quick rate hikes.
Uncertainty over Italian politics and resulting weakness in the Italian bond market might cap the anticipated strength in Euro this week.
The Indian Unit is seen opening at 67.28 a dollar with expectations on USDINR to be playing the 67.05-67.40 range for the day.