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Published on 30/07/2021 9:41:16 AM | Source: Kedia Advisory

EURINR trading range for the day is 88.24-88.62 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

USDINR trading range for the day is 74.35-74.69.

USDINR dropped to three week low as the U.S. Federal Reserve's dovish stance was a drag on the greenback

U.S. interest rate hikes are distant and as riskier currencies drew support from China's efforts to soothe stock market jitters.

The central bank expanded in June its version of quantitative easing to support economic growth and lowered its FY22 GDP forecast to 9.5%.

 

EURINR

EURINR trading range for the day is 88.24-88.62.

Euro rose as the economic sentiment indicator in the Euro Area rose for a sixth month in a row to an all-time high of 119.0 in July 2021

Euro zone households continued to borrow at a brisk pace from their banks last month, European Central Bank data showed.

The ECB pledged last week to keep interest rates at record-low levels for even longer in an effort to bring inflation back to its 2% target.

 

GBPINR

GBPINR trading range for the day is 103.57-104.07.

GBP seen supported as traders have been encouraged by signs that England’s end to most COVID restrictions has not been a disaster.

England lifted its final coronavirus-induced restrictions last week amid skepticism among epidemiologists due to the rapid spread of the Delta variant.

Policymaker Gertjan Vlieghe said that the central bank should not scale back its stimulus possibly until well into 2022.

 

JPYINR

JPYINR trading range for the day is 67.7-68.02.

JPY remained in range amid nerves about the Delta coronavirus variant and jitters in China’s equity market.

While the U.S. Federal Reserve indicated it was in no hurry to withdraw monetary policy support.

Japan's leading index decreased in May, as initially estimated, final data from the Cabinet Office showed.

 

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