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Published on 5/03/2021 12:50:07 PM | Source: Kedia Advisory

EURINR trading range for the day is 87.54-88.62. - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

USDINR trading range for the day is 72.52-73.58.

Rupee recovered thanks to positive news around the country's COVID-19 vaccination drive and upbeat domestic economic growth data.

The IHS Markit India Services PMI increased to 55.3 in February of 2021 from 52.8 in the previous month

India's economy grew 0.4% in October to December, ending its severest recession since at least 1996

 

EURINR

EURINR trading range for the day is 87.54-88.62.

Euro dropped as concerns over rising bond yields continue to weigh.

Latest PMI data that pointed to another solid contraction in construction activity in the Euro Area.

The IHS Markit Eurozone Construction PMI ticked up to 45.0 in February of 2021 from 44.1 in the previous month

 

GBPINR

GBPINR trading range for the day is 101.3-102.4.

GBP dropped as dollar index held above the 91 as soaring US Treasury yields lent some optimism to the greenback bulls.

UK's Sunak extends COVID rescue plan but moves to bring in more tax

Investors began pricing in a robust economic recovery and rising inflation fueled by massive government spending and an ultra-dovish Fed.

 

JPYINR

JPYINR trading range for the day is 67.67-68.75.

JPY dropped as hopes that vaccine distribution and more government stimulus will drive the U.S. economy into a solid rebound lifted the greenback

The services sector in Japan continued to contract in February, albeit at a slower pace.

The unemployment rate in Japan came in at a seasonally adjusted 2.9 percent in January

 

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