09-02-2022 11:42 AM | Source: Kedia Advisory
USDINR trading range for the day is 79.14-80.44 - Kedia Advisory
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USDINR

* USDINR trading range for the day is 79.14-80.44.

* Rupee held its ground as weakening oil prices and exporters selling dollars shielded it from a selloff in global risk assets.

* India Manufacturing edged down to 56.2 in August 2022 from July’s of 56.4

* According to Barclays, India's GDP growth accelerated to 16 percent year-on-year in Q1FY23.

EURINR

* EURINR trading range for the day is 79.55-80.53.

* Euro slipped as red-hot inflation stoked interest rate expectations in Europe.

* Euro zone inflation rose to a record high at 9.1% in August, data showed

* ECB to raise rates next week and in future, Finland's Rehn says

 GBPINR

* GBPINR trading range for the day is 91.92-92.94.

* GBP dropped as soaring UK inflation seen outpacing effects of BoE hikes

* Inflation is at 10% and predicted to climb higher, squeezing the pay packages of hard-hit consumers further.

* Adding to nervousness around the pound is the election of a new Conservative Party leader and prime minister.

JPYINR

JPYINR trading range for the day is 57.06-57.7.

* JPY dropped as the dollar rose as investors braced for higher U.S. interest rates while expecting anchored Japanese rates to go nowhere anytime soon.

* Japan's Q2 capex rises 4.6% yr/yr, up for 5th straight quarter

* The au Jibun Bank Japan Manufacturing PMI was revised higher to 51.5 in August of 2022

 

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