12-05-2022 10:34 AM | Source: Kedia Advisory
USDINR trading range for the day is 81.08-81.64 - Kedia Advisory
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USDINR

* USDINR trading range for the day is 81.08-81.64.

* USDINR remained in range after U.S. data reaffirmed expectations of a slowdown in the pace of rate hikes by the Federal Reserve.

* RBI may lower FY23 GDP growth forecast

* The premiums on the Indian rupee are unlikely to fall much further

 

EURINR

* EURINR trading range for the day is 85.22-86.12.

* Euro rose amid drop in dollar as investors bet the Fed will slow the pace of tightening from its December meeting

* Euro zone factory downturn eased in November, inflationary pressures moderated

* The latest inflation report for the Eurozone showed that annual inflation slowed to 10% in November

 

GBPINR

* GBPINR trading range for the day is 99.07-100.41

* GBP gained as the dollar rally paused, with investors assessing the monetary policy outlook

* Data showed British manufacturing activity falling for a fourth month in a row in November

* Money markets are fully pricing in a 50-basis-point rate hike at the BoE's Dec. 15 meeting.

 

 

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