Rupee Advanced As Hopes That The US Fed Could Slow Down The Pace Of Its Rate Hikes

Published 02-11-2022, 09:15 am

# USDINR trading range for the day is 82.66-83.1.
# Rupee advanced as hopes that the U.S. Federal Reserve could slow down the pace of its rate hikes buoyed risk appetite and hurt the dollar.
# India Manufacturing PMI increased to 55.3 in October 2022 from 55.1 in September
# India's unemployment rate rose in October post-harvest season

# EURINR trading range for the day is 82.04-82.7.
# Euro steadied as investors digested a batch of macroeconomic data and its potential impact on the European Central Bank’s guidance.
# Euro zone inflation soars past forecasts to a new record high
# Import prices in Germany increased by 29.8% year-on-year in September 2022

# GBPINR trading range for the day is 95.13-95.97.
# GBP remained under pressure as UK manufacturing shrinks at the fastest rate since mid – 2020
# The final S&P Global (NYSE:SPGI) UK Manufacturing Purchasing Managers' Index (PMI) for October fell to 46.2 from 48.4 in September
# Britain's economy is on the cusp of recession as households and businesses wrestle with rising energy costs.

# JPYINR trading range for the day is 55.35-57.85.
# JPY rose as the central bank must maintain an ultra-loose monetary policy to support an economy
# Japan's stealth yen intervention aims for maximum impact - finance minister
# The au Jibun Bank Japan Manufacturing PMI was at 50.7 in October of 2022, after a final 50.8 in September.

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