USDINR
USDINR most likely to start Thursday session in range between 72.95 – 73.05 levels as greenback continued to hover near a five-month low versus major peers as investors looked to key U.S. inflation data and a European Central Bank meeting later in the day.
Day Trend: - NEUTRAL TO BULLISH.
INTRADAY RANGE – 72.75 (72.90 – 73.05) 73.20
ALL EYES ON
The U.S. Labour Department's consumer prices data has been much anticipated after last month's report showed consumer prices increased by the most in nearly 12 years in April.
That has stoked bets that higher prices could last longer than some anticipate, potentially calling into question the Federal Reserve's insistence that current inflation pressures are transitory and monetary stimulus should stay in place for some time yet.
The ECB is widely expected to keep policy settings steady, the euro could be sensitive to changes in the bank's economic forecasts or any signal that the pace of bond buying could be reduced in months ahead. Investors will be watching for any clues of an imminent slowdown to its bond-buying program.
The U.K. is to host the Group of Seven (G7) leaders’ summit in Cornwall, due on Friday, which plans to share 1 billion Covid-19 vaccine doses in 2022 to help cover 80% of the world’s adult population.
Comments