IGI Logo

USDINR

Observations

USDINR trading range for the day is 81.77-82.23 Rupee weakened marginally after U.S. payrolls data bolstered the case for further rate hikes by the Federal Reserve. India's consumer inflation likely eased in March to 5.80% thanks to softer food price rises. War against Inflation has to continue, Says RBI Governor.

EURINR

Observations

EURINR trading range for the day is 89.13-89.75 Euro remained in range amid expectations the ECB will keep raising interest rates in the coming months to combat inflation. ECB’s Knot said it was unclear to him if a rate hike of 50 bps was necessary in May, or if a scale back to a lower 25 bps was a possibility Markets have fully priced in a 25 bps increase in the 3% deposit rate on May 4 and see another 25 bps move by mid-year.

GBPINR

Observations

GBPINR trading range for the day is 101.38-102.28 GBP dropped as dollar index firmed up after the US non-farm payrolls report pointed to a tight labor market Investors broadly think the Bank of England will raise interest rates further to combat inflation. BOE’s Pill said the central bank still could not be sure that it has raised interest rates enough to tame inflation

JPYINR

Observations

JPYINR trading range for the day is 61.67-62.49 JPY dropped after U.S. payrolls data bolstered the case for further Federal Reserve rate hikes Japan current account turns positive in February Japan's new central bank chief assumes office as global risks loom

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html
SEBI Registration number INZ000183631

Above views are of the author and not of the website kindly read disclaimer