USDINR trading range for the day is 79.42-79.9 - Kedia Advisory
USDINR
* USDINR trading range for the day is 79.42-79.9.
* USDINR gains founding support from minutes of the U.S. Federal Reserve's last meeting that hinted higher interest rates could stick for longer.
* The Fed's July meeting showed officials found "little evidence" of inflation pressures easing.
* Industrial production in India advanced by 12.3 percent year-on-year in June of 2022
EURINR
* EURINR trading range for the day is 80.82-81.4.
* Euro remained supported as investors balance the ECB policy tightening path against the region’s economic outlook.
* The euro zone inflation outlook has failed to improve since a July rate hike, European Central Bank board member Isabel Schnabel said
* The euro area economy expanded slightly less than estimated in the second quarter, the flash estimate from Eurostat showed.
GBPINR
* GBPINR trading range for the day is 95.47-96.63.
* GBP dropped as data showed inflation climbed to its highest level in more than four decades in July
* Consumer price inflation rose to 10.1% in July, its highest since February 1982.
* Higher-than-forecast inflation supports the view that the Bank of England will follow up last month's 50 basis point rate rise.
JPYINR
* JPYINR trading range for the day is 58.85-59.23.
* JPY recovered from lows after pressure seen after disappointing Chinese and US data renewed fears of a global recession.
* Japan trade gap widens as imports surge, capex solid for now
* Machinery orders underscore brisk corporate activity
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