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01-01-1970 12:00 AM | Source: Kedia Advisory
USDINR trading range for the day is 74.64-75.42 - Kedia Advisory
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USDINR

* USDINR trading range for the day is 74.64-75.42.

* USDINR remained under pressure as disappointing U.S. industrial production data easing fears about inflation and tightening of monetary policy.

* Weighed down by weak data, bond yields declined and the dollar index slid to a three-week low.

* The IMF cut India's 2021 GDP growth forecast to 6%, as COVID-19 new infection waves remain the biggest concern.

 

EURINR

* EURINR trading range for the day is 86.76-87.86.

* Euro remained under pressure as recent comments by ECB officials failed to soothe fears of a potential monetary tightening

* ECB President Lagarde said that the bloc's central bank will continue aiding the Euro Area economy as the fallout from the pandemic lingers

* Germany's top economic institutes upgraded economic growth projection for 2022 but lowered its projection for the current year

 

GBPINR

* GBPINR trading range for the day is 102.39-104.39.

* GBP dropped as fears that BOE would raise interest rates as early as next month persisted despite an unexpected slowdown in inflation.

* UK inflation dip unlikely to deter Bank of England from rate hike

* UK's Kwarteng confident that inflation will be contained

 

JPYINR

* JPYINR trading range for the day is 65.27-65.93.

* JPY dropped amid ultra-loose monetary policies and external pressures from rising energy prices.

* Japan's export growth weakened to its slowest in seven months in September

* Japan warns of need for stable currency as weak yen lifts input costs

 

 

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