IGI Logo

USDINR

USDINR trading range for the day is 76.05-76.67.

USDINR dropped on the back of weak global crude oil prices, even as caution prevailed ahead of the U.S. Federal Reserve's policy decision.

The Fed raised the target for the fed funds rate by a quarter-point to 0.25%-0.5% during its March 2022 meeting, in line with market expectations.

RBI’s outlook on inflation, growth overtaken by Ukraine war, monetary policy panel officials say

EURINR

EURINR trading range for the day is 83.68-84.3.

Euro recovered some of losses as diplomatic efforts to end the war in Ukraine continue ahead of key central bank meetings later in the week.

ECB’s Guindos said rising inflation would continue to have an impact on the EU but that the bloc's economy would not go into recession

The ECB forecast last week that euro zone growth will be 0.5 percentage points slower this year than previously expected

GBPINR

GBPINR trading range for the day is 98.89-101.29.

GBP remained under pressure amid firmness in Rupee and the BOE is highly expected to hike interest rates

The data showed the jobless rate fell more than expected to 3.9% in the three months ending January of 2022

Money markets are pricing in around 70% chance of a 50 bps of BoE rate hike in March and 160 bps by December 2022.

JPYINR

JPYINR trading range for the day is 64.28-65.16.

JPY fell as the Bank of Japan’s firm dovish stance contrasted sharply with other major central banks that are preparing to tighten monetary policies.

Japan reported a wider-than-expected trade deficit in February as an energy-driven surge in import costs added to vulnerabilities

Japan's government is considering putting together a new economic package after the fiscal 2022 budget is approved by parliament.

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