September 28, 2022
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  • USDINR held firm as oil prices weaken and exporters sell dollars

USDINR held firm as oil prices weaken and exporters sell dollars

By on September 2, 2022 0

The #USDINR trading range for the day is 79.14-80.44.
# The rupiah held firm as weaker oil prices and exporters selling dollars shielded it from a sell-off in global risk assets.
# India Manufacturing fell slightly to 56.2 in August 2022 from 56.4 in July.
# According to Barclays (LON:), India’s GDP growth accelerated to 16% YoY in Q1FY23.

# The trading range for the day is 79.55-80.53.
# The euro slipped as searing inflation fueled interest rate expectations in Europe.
# Eurozone inflation hit a record high of 9.1% in August, data shows
# The ECB will raise rates next week and in the future, according to Finn Rehn

# The trading range for the day is 91.92 to 92.94.
# The British pound fell as soaring UK inflation outpaced the effects of BoE hikes
# Inflation is at 10% and expected to rise further, further compressing earnings conditions for hard-hit consumers.
# The election of a new Conservative Party leader and Prime Minister adds to the jitters around the pound.

# The trading range for the day is 57.06 to 57.7.
# The JPY fell as the dollar rose as investors braced for higher US interest rates while expecting pegged Japanese rates to go nowhere anytime soon.
#Japan’s Q2 capital spending grows 4.6% YoY, up for the 5th consecutive quarter
# The Jibun Bank Japan Manufacturing PMI was revised up to 51.5 in August 2022.