Rupee Traded Stable As Traders Fretted About The Health Of The US Banking System

  • Forex Analysis

# USDINR trading range for the day is 81.76-82.04.
# Rupee closed little changed as traders fretted about the health of the US banking system
# U.S. data fuelled stagflation worries with the country's economy slowing more than expected in the March quarter
# IMF predicts the Indian economy will grow by nearly 6 percent this fiscal year.

# EURINR trading range for the day is 89.8-90.56.
# Euro dropped as data showed the German economy was weaker than expected in the first quarter.
# Germany's economy stagnated in the first quarter, compared to the previous three months.
# ECB is seen raising borrowing costs for a seventh time at the May meeting, with most investors betting on a 25bps increase.

# GBPINR trading range for the day is 101.82-102.5.
# GBP seen pressure as retail sales fell more than expected in March
# The latest Markit PMI survey suggested that Britain's GDP expanded the most in a year in April
# Highly-anticipated CPI report revealed Britain's inflation rate remained above the 10% mark for a seventh straight month.

# JPYINR trading range for the day is 59.79-62.07.
# JPY dropped as BoJ maintained its key short-term interest rate at -0.1% and for 10-year bond yields around 0%
# The board cut its 2022 GDP growth forecast to 1.2% from 1.9% made in January, amid lower private consumption.
# Core consumer prices in Tokyo, rose 3.5% in April from a year earlier, government data showed.

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  • faruk patel @faruk patel
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    Like 0

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