Rupee steadied As Dollar Purchases By The Central Bank Offset Foreign Inflows

  • Forex Analysis

# USDINR trading range for the day is 81.65-81.99.
# Rupee was little changed as likely dollar purchases by the central bank offset foreign inflows into the domestic equity market.
# India services PMI highest since 2010 and India composite PMI climbs to near 13-year high
# The Federal Reserve raised the fed funds rate by 25bps to a range of 5%-5.25%, marking the 10th increase.

# EURINR trading range for the day is 90.31-90.83.
# Euro steadied after the Federal Reserve delivered another 25bps increase in borrowing costs
# ECB raised its key interest rates by 25 basis points during its May meeting, indicating a slowing pace of policy tightening
# Germany's trade surplus increased to EUR 16.7 billion in March 2023 from EUR 16 billion in the previous month.

# GBPINR trading range for the day is 102.59-103.05.
# GBP rose following indications from the Fed that it may pause its rate hike cycle soon.
# The S&P Global/CIPS UK Services PMI was revised higher to 55.9 in April of 2023 from a preliminary of 54.9
# Britain's inflation rate remained above the 10% mark for the seventh month in a row.

# JPYINR trading range for the day is 60.77-61.37.
# JPY gains as the Federal Reserve delivered a widely expected 25 basis point rate hike
# The BOJ said it will remove forward guidance that pledges to keep interest rates at current or low levels.
# The au Jibun Bank Japan Manufacturing PMI held at a six-month high of 49.5 in April 2023.

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  • ratan maitra @ratan maitra
    your prediction failed, predict when it go down.
    Like 0

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