USDINR Fell Amid Expectations Of Eased Import Inflation, And US Jobs Report

Published 09-11-2022, 09:08 am
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# USDINR trading range for the day is 81.66-82.64.
# USDINR dropped amid expectations of eased import inflation, driven by the US jobs report that drove losses for the greenback and lower oil prices
# India's fx reserves jump likely fuelled by revaluation, forward book changes
# The S&P Global (NYSE:SPGI) India Services PMI was up to 55.1 in October 2022 from September's six-month low of 54.3

# EURINR trading range for the day is 81.35-82.63.
# Euro rose on expectations that the ECB will be tightening monetary policy further to tame stubbornly high inflation.
# ECB President Lagarde said the bank should keep raising interest rates, even if the probability of a Eurozone recession had increased.
# Germany's industrial output rises more than expected

# GBPINR trading range for the day is 92.57-95.07.
# GBP rose amid expectations of continued policy tightening by BOE as the UK inflation rate hit a 40-year high and as fiscal uncertainty continued.
# British Finance Minister Jeremy Hunt is set to outline up to £60 billion of tax rises and spending cuts next
# The S&P Global/CIPS UK Services PMI was revised higher to 48.8 in October of 2022 from a preliminary of 47.5

# JPYINR trading range for the day is 55.68-56.72.
# JPY gained on hopes for a shift in Japan’s yield curve control policy offset a hawkish messaging from the US Federal Reserve.
# Japan’s Services PMI stood at 53.2 in October of 2022, compared with a 52.2 in the prior month
# Japan’s Composite PMI was at 51.8 in October 2022, compared with 51.0 a month earlier.

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