USDINR trading range for the day is 82-82.26 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82-82.26 Rupee traded in range as investors factored in the possibility ofadditional rate hikes by the Federal Reserve.India monetary tightening cycle not over, inflation remains aconcern: RBI minutesFed’s Harker said that "some additional tightening may beneeded to ensure policy is restrictive enough
EURINR
Observations
EURINR trading range for the day is 89.8-90.22Euro dropped amid heightened economic uncertaintiesECB’s Lane joined a chorus of Eurozone central bankerssupporting an interest rate increase at the May meetingEurozone Manufacturing PMI fell to 45.5 in April of 2023 from 47.3in March, below forecasts of 48
GBPINR
Observations
GBPINR trading range for the day is 101.25-102.39GBP dropped after economic data showed British consumersare buckling under the pressure of inflation.Retail sales in the United Kingdom fell more than expectedThe S&P Global/CIPS UK Services PMI increased to 54.9 in April2023
JPYINR
Observations
JPYINR trading range for the day is 61.21-61.59JPY remained supported after Japan’s core inflation remainedwell above the central bank’s target in MarchJapan’s inflation, will fall back below the central bank’s 2%target later in the year on decreased import costs.Japan services sector expands for 8th month
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
