IGI Logo

USDINR

USDINR trading range for the day is 79.15-79.57.

USDINR rose as investors fled to safe US assets amid growing recession fears, despite government 's efforts to stem the rise.

At the same time, elevated crude oil prices continue to weigh on the country's current account and trade balances.

RBI raised the overseas borrowing limits for Indian companies and exempted the interest rates ceilings on foreign deposits to boost the dollar inflows into the economy

EURINR

EURINR trading range for the day is 79.87-81.29.

Euro dropped on growing concerns Russia may cut off gas supply to Europe and plunge the region into recession.

The latest ECB minutes showed policymakers discussed a 25bps rate hike this month and a potentially larger move in September

Retail sales in the Euro Area edged 0.2% higher in May over April 2022, rebounding from a 1.4% drop in the previous period.

GBPINR

GBPINR trading range for the day is 94.21-96.01.

GBP recovered from early losses seen as political turmoil in the UK exacerbates uncertainty around the country's economic outlook

Pressure also seen as recession risks loom and investors doubt the BoE will be able to control soaring inflation without damaging the economy too much.

UK jobs market lost a bit more steam in June

JPYINR

JPYINR trading range for the day is 58.23-58.95.

JPY gains amid safe-haven buying following the shooting of former Prime Minister Shinzo Abe.

Japan's service sector sentiment declined 1.1 points from a month earlier to 52.9 in June 2022 from May’s five-month high of 54.0

The economic outlook index fell 4.9 points to 47.6, the first decline and the lowest in four months, amid rising costs and the impact of Ukraine war.

To Read Complete Report & Disclaimer Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer