USDINR
On Friday, USDINR likely to commence session between 81.70 – 81.80 levels as dollar was on track for a second straight monthly loss on Friday on mounting expectations the Federal Reserve could soon end its aggressive rate-hike cycle.
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USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - HOLD
INTRADAY RANGE – 82.19 (81.94 – 81.69) 81.44
THE BOJ
On Friday ,The Bank of Japan's (BOJ) monetary policy decision takes centre stage in Asia, where expectations are for new BOJ Governor Kazuo Ueda to keep monetary settings ultra-loose at his debut policy meeting.
Core consumer prices in Japan's capital, Tokyo, rose 3.5% in April from a year earlier, government data showed on Friday, beating market forecasts in a sign of broadening inflationary pressure in the world's third-largest economy.
THE USA DATA
On Thursday showed that while U.S. economic growth slowed more than expected in the first quarter, consumer spending, which was accompanied by a rise in inflation, accelerated.
A measure of inflation in the economy, the price index for gross domestic purchases, rose at a 3.8% pace after increasing at a 3.6% rate in the fourth quarter, while the core PCE price index jumped at a 4.9% rate after advancing at a 4.4% pace in the prior quarter.
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