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USDINR

Observations

USDINR trading range for the day is 82.52-82.92 Rupee dropped as India's trade deficit in January shrank to a one-year low India current account gap seen smaller on narrower trade deficit, record service surplus USD/INR 1-year forward premium implied yield edged up to 2.08% but was still down nearly 30 bps so far this month.

EURINR 

Observations

EURINR trading range for the day is 88.32-88.88 Euro dropped as dollar gained after stronger-than-expected US retail sales data highlighted the economy’s strength ECB's Panetta calls for small rate hikes as inflation falls Euro zone Q4 GDP growth confirmed, employment up more than expected

GBPINR

Observations

GBPINR trading range for the day is 99.27-100.17 GBP dropped after a bigger-than-expected drop in UK inflation in January raised expectations the BOE may end its interest rate hiking cycle soon. BoE's Pill: We have to be ready to see through policy tightening Data showed British consumer price inflation fell to 10.1% last month, more than the 10.3% expected and down from December's 10.5%.

JPYINR

Observations

JPYINR trading range for the day is 61.64-62.18 JPY dropped as growth in Japan's merchandise exports slowed sharply in January amid weakening Chinese demand Japan's trade deficit widened to JPY 3,496.6 billion in January 2023 from JPY 2,199.4 billion in the same month a year earlier Japan's core machinery orders, rose 1.6% month-on-month in December 2022

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