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This week the spot remained negative on IPO related inflows and subdued dollar By Emkay Global
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Below are Views On This week the spot remained negative on IPO related inflows and subdued dollar By Emkay Global Financial Services
“This week the spot remained negative on IPO related inflows and subdued dollar. However, the narrative is changing as inflationary concerns are increasing globally and as we proceed with the week, the IPO related inflows may dry out, keeping USDINR spot afloat. The key catalyst for the fx market is tonight’s US inflation data. A lower than expected CPI figure will reflect a ‘transitory’ factors, however a higher than expected data or a figure in line with market consensus will induce the Fed to accelerate the pace of asset purchases, acting as a guard to any fall in USDINR spot. So we expect USDINR spot to trade in between 73.75-74.50.”
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
