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09-07-2022 11:42 AM | Source: Kedia Advisory
USDINR trading range for the day is 79.8-80.14. - Kedia Advisory
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USDINR

* USDINR trading range for the day is 79.8-80.14.

* Rupee was little changed amid a selloff in the Chinese yuan, as traders refrained from making big bets ahead of next week's U.S. inflation data.

* India cenbank governor says aims to manage rupee depreciation expectations

* 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

EURINR

* EURINR trading range for the day is 79.16-80.26.

* Euro recovered on some low-level support as the ECB is set to raise interest rates again this week

* The S&P Global Eurozone Construction PMI fell to 44.2 in August of 2022 from 45.7 in July

* The S&P Global Germany Construction PMI fell to 42.6 in August of 2022 from 43.7 in July

GBPINR

* GBPINR trading range for the day is 92.29-93.17.

* GBP gained as political uncertainty eased after Liz Truss won the race for the Conservative Party leadership

* While pound hold near $1.15 in September, the lowest level since 1985, pressured by a challenging economy outlook, and soaring inflation.

* The S&P Global/CIPS UK Construction PMI edged higher to 49.2 in August of 2022 from 48.9 in July

JPYINR

* JPYINR trading range for the day is 55.96-57.54.

* JPY weakened past 141 against the dollar, hitting its lowest levels since August 1998, pushed lower by a widening policy gap

* Japan's household spending extends growth but inflation risks loom

* BOJ committed to maintain ultra-low interest rates at a time Fed has been talking up further monetary tightening to stamp out inflation.

 

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