IGI Logo

USDINR

* USDINR trading range for the day is 75.03-75.55.

* USDINR dropped after policymakers will continue with an accommodative stance as long as necessary to revive and sustain growth.

* RBI’s MPC left key rates unchanged at record lows earlier in the month and calmed nerves over stimulus withdrawal for now.

* Fed chair Jerome Powell confirmed the Federal Reserve is ready to start tapering.

EURINR

* EURINR trading range for the day is 87.3-87.62.

* Euro remained under pressure as euro zone consumer confidence dipped less than expected in October

* Euro zone banks raised bar for mortgages in third quarter, ECB says

* Inflation expectations hit new seven-year high, shooting past ECB target

GBPINR

* GBPINR trading range for the day is 103.44-104.2.

* GBP remained steadied as a slight decline in UK consumer price inflation was seen as temporary

* Money markets are pricing in a rate hike by the central bank at its meeting on Nov. 4.

* A record proportion of the British public thinks inflation will accelerate over the next 12 months

JPYINR

* JPYINR trading range for the day is 65.83-66.35.

* JPY dropped ahead of the Bank of Japan’s two-day Monetary Policy Meeting as markets await fresh signals from the dovish BOJ.

* BOJ to issue fresh quarterly growth, inflation forecasts

* BOJ seen maintaining forecast of moderate recovery

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