USDINR trading range for the day is 83.03-84.13 - Swastika Investmart
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
USDINR
* USDINR trading range for the day is 83.03-84.13.
* Rupee fell to a record low pressured by a drop in the offshore Chinese yuan and strong local dollar demand.
* Robust US economic data and rising demand for US shares boosted dollar demand for Asian markets
* India Manufacturing PMI increased to 59.2 in March 2024 from a final 56.9 in the previous Month.
EURINR
* EURINR trading range for the day is 90.12-90.94.
* Euro dropped as dollar gained underpinned by bets that other major central banks could start cutting interest rates earlier than the Federal Reserve..
* ECB President Lagarde reiterated that June is the month in which policymakers will consider lowering interest rates.
* HCOB's latest PMI survey revealed that the Eurozone Manufacturing PMI arrived at 45.7 in March.
GBPINR
* GBPINR trading range for the day is 104.79-105.79.
* GBP dropped after BOE kept the interest rate steady as expected but the calls for a rate hike diminished.
* The GfK Consumer Confidence indicator in the United Kingdom unexpectedly posted at -21 in March 2024
* UK inflation drop fuels June BoE rate cut bets.
JPYINR
* JPYINR trading range for the day is 55.27-55.81.
* JPY steadied amid speculations that Japanese authorities will intervene in the markets.
* The uncertainty over the BoJ’s future policy steps keeps a lid on any meaningful upside.
* The core consumer price index in Japan, rose 2.8% YoY in February 2024, accelerating from a 2% gain in January.
Please refer disclaimer at https://www.swastika.co.in/disclaimer
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
