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USDINR Remained in Range as the US Economy Grew at its Slowest Pace

ByKedia Advisory
Published 01-11-2021, 09:05 am
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# USDINR trading range for the day is 74.86-75.38.
# USDINR remained in range as the US economy grew at its slowest pace in more than a year
# Finance ministry approves 8.5% return on PF deposits for FY21
# India's forex reserves fall to $640.10 bln as of Oct. 22

# EURINR trading range for the day is 87.34-87.86.
# Euro gains as the ECB left monetary policy unchanged but failed to calm markets that are pricing in two ECB rate hikes by the end of next year
# Euro zone companies brace for another year of supply snags, ECB says
# Italian economy grows more than expected in Q3 as recovery from COVID crisis continues

# GBPINR trading range for the day is 103.19-103.85.
# GBP remained supported as investors assessed whether the Bank of England would proceed with an interest rate hike at the upcoming meetings or hold fire
# Finance minister Rishi Sunak promised higher public spending but his budget while projecting robust 6.5% growth in 2021
# Consumer credit in the United Kingdom increased by GBP 0.2 billion in September of 2021, following an upwardly revised GBP 0.5 billion increase in August

# JPYINR trading range for the day is 65.92-66.28.
# JPY dropped after the Bank of Japan kept accommodative monetary policies in place
# Japan's factory output hampered by supply snags, leaves economy reeling
# The consumer confidence index in Japan was up 1.4 points from the previous month to 39.2 in October of 2021.

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