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01-01-1970 12:00 AM | Source: Kedia Advisory
USDINR trading range for the day is 81.63-82.33 - Kedia Advisory
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USDINR

Observations

trading range for the day is 81.63-82.33 Rupee strengthened as cooling U.S. inflation increased bets that the Fed was near the end of its rate-hiking cycle The minutes of the Fed's meeting revealed worries about the banking crisis, with staff projecting a mild recession later this year. India's March merchandise trade deficit at $13.7 bln

 

EURINR

Observations

EURINR trading range for the day is 89.9-90.48 Euro gains as investors continued to assess softer-than-expected US inflation data and the Fed’s March policy meeting minutes. Germany's consumer price inflation was confirmed at a seven-month low of 7.4% year-on-year in March 2023 ECB policymakers converging on 25 – bps rate hike in May

 

GBPINR

Observations

GBPINR trading range for the day is 102.2-102.64 GBP rose as investors digested a batch of economic data and assessed views on the Bank of England's policy path Data showed Britain's GDP stagnated in February as to strikes by public workers hit output but January's growth was revised higher UK industrial output unexpectedly declined, while construction output beat expectations.

 

JPYINR

Observations

JPYINR trading range for the day is 61.43-61.85 JPY rose as softer-than-expected US inflation data reinforced expectations that the Fed will likely stop its tightening campaign soon. BOJ governor Ueda reiterated that inflation in Japan will fall below the central bank’s 2% target toward the middle of the year. The BOJ could help prevent abrupt policy changes later by allowing more flexibility in its yield curve control policy - IMF

 

 

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