Perspective note on rupee By Emkay Global Financial Services
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Below is Perspective note on rupee By Currency Desk of Emkay Global Financial Services
“After US NFP, it is the CPI data and FOMC minutes that is in focus as it may offer more insight into when the Federal Reserve will reduce stimulus and raise interest rates. The USDINR spot has been quite volatile this week, surging to one and half year high, as event specific risk is keeping it afloat. Reuters expect US CPI to stay unchanged in September, only a lower than expected figure will ease USDINR spot. But as long as the spot is trading above 75, view is positive. A consistent trading below 75 can push prices towards 74.80-74.75, while 75.65 will act as a crucial resistance.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
