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Published on 25/11/2022 9:32:23 AM | Source: Kedia Advisory

EURINR trading range for the day is 84.34-85.74 - Kedia Advisory

Posted in Top Stories| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 81.41-82.05.

* Rupee gained after weak U.S. data and Federal Reserve minutes reinforced expectations of less aggressive U.S. rate hikes.

* India's economic growth to decline to 5.9 pc in 2023: Goldman Sachs

* The OECD said that India is set to be the second-fastest growing economy in the G20 in FY 2022-23

 

EURINR

* EURINR trading range for the day is 84.34-85.74.

* Euro extended gains prompted by a falling dollar after FOMC minutes suggested the Fed will soon start slowing the pace of rate increases.

* Euro was already benefiting from fresh economic data while investors awaited further clues on the ECB's next steps.

* Euro zone downturn eased in Nov but demand still falling - PMI

 

GBPINR

* GBPINR trading range for the day is 98.07-99.29

* GBP rose as the dollar depreciated after FOMC minutes suggested the Fed will soon start slowing the pace of rate increases

* GBP was already gaining ground as investors were digesting recent economic data and welcomed Rishi Sunak and Jeremy Hunt’s economic plans.

* Preliminary British economic activity data beat expectations, though it still showed contraction was underway.

 

JPYINR

* JPYINR trading range for the day is 57.58-59.84

*JPY rose after the latest Fed minutes showed that most officials backed the need to moderate the pace of rate hikes soon

* Japan manufacturing shrinks the most in 2 years

* Japan Services PMI declined to 50.0 in November of 2022 from a final 53.2 in the prior month

 

 

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