IGI Logo

USDINR

Observations

USDINR trading range for the day is 81.64-82.58 Rupee declined, paring back earlier advances as weak risk sentiment owing to a U.S. lender's collapse saw equities fall and the dollar index recover. India inflation rate eases only slightly to 6.4% India proposes additional net expenditure of 1.48 trillion rupees for 2022/23

EURINR

Observations

EURINR trading range for the day is 87.36-88.3 Euro gains as concerns over the US financial system eased after US authorities stepped in to limit the fallout from the sudden collapse of SVB Investors await the ECB’s policy statement due on Thursday, with policymakers expected to raise interest rates by another 50 bps. The bloc's central bank might adopt a more dovish tone due to the ongoing risks to financial stability.

GBPINR

Observations

GBPINR trading range for the day is 98.78-99.66 GBP rose as investors dumped the dollar on hopes the Federal Reserve might take less aggressive approach on monetary policy going forward BOE is seen increasing rates by a further 25 bps this month, an 11th consecutive rate hike, before ending the current tightening cycle. Investors now await UK employment and wage data to be published this week, as well as British finance minister Jeremy Hunt's new budget

JPYINR

Observations

JPYINR trading range for the day is 60.64-62.5 JPY rose as the dollar weakened, while jitters over the largest U.S. bank failure since the 2008 financial crisis drove investors to the safe-haven asset. Japan ruling block's partner Komeito to propose 'several trillion yen' stimulus The business survey index of large manufacturing firms in Japan fell to -10.5% in the first quarter of 2023

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