USDINR trading range for the day is 82.22-82.46 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.22-82.46
Rupee rose as the dollar continued its slide ahead of U.S. inflation data
The annual inflation rate in the US slowed to 3% in June of 2023, the lowest since March of 2021
India's annual consumer inflation rate accelerated for the first time in five months to 4.81% in June of 2023
EURINR
Observations
EURINR trading range for the day is 90.6-91
Euro steadied as investors believe that ECB has more work to do in order to address inflationary pressures in the Eurozone
Germany's inflation rate was confirmed at 6.4%, breaking the trend of a steady decline observed since the beginning of the year
The ZEW Indicator of Economic Sentiment for the Euro Area continued to plunge to -12.2 in July 2023, down from -10 in the prior month
GBPINR
Observations
GBPINR trading range for the day is 105.91-106.97
GBP dropped as profit booking as markets continued to gauge corporate resilience to upcoming rate hikes from the BoE.
BoE's Bailey sees some signs of cooling labour market
BoE's Bailey sees no need to up bank deposit guarantee threshold
JPYINR
Observations
JPYINR trading range for the day is 58.95-59.35
JPY rose helped by a slump in U.S. Treasury yields and bets for a policy tweak by the Bank of Japan.
Japan's wholesale inflation slows for 6th straight month
Japan's core machinery orders, declined by 7.6% month-on-month in May 2023
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