USDINR trading range for the day is 79.67-80.27 - Kedia Advisory
USDINR
* USDINR trading range for the day is 79.67-80.27
* USDINR rose after data showed the labour market remained strong in the United States, furthering the case for the Federal Reserve to keep tightening rates.
* India's trade deficit rose to USD 28.68 billion in August of 2022 from USD 13.81 billion in the same period last year
* The Indian economy continues to strengthen its recovery from the disruptions caused by the Covid-19 pandemic.
EURINR
* EURINR trading range for the day is 79.4-80.62.
* Euro recovered amid weakness in Rupee ahead of U.S. jobs data that kept market focus squarely on inflation.
* Manufacturing activity across the euro zone shrank for a second month in August
* Euro zone economic sentiment falls more than expected in Aug
GBPINR
* GBPINR trading range for the day is 92.05-93.01.
* GBP steadied as some calm returned after pressure seen amid concerns about the UK's deteriorating economic outlook
* UK business inflation expectations rise in August – BoE
* UK factory contraction confirmed in August
JPYINR
* JPYINR trading range for the day is 56.86-57.5.
* JPY breached the 140 level, its lowest level since September 1998 amid a widening policy gap with the US
* Japan repeats warning against volatility as yen hits 24 – year low
* BOJ Governor Kuroda reiterated the need to keep policy ultra-loose, arguing that external factors driving domestic inflation higher will start easing next year.
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