USDINR
On Friday, The rupee is likely to start session between 82.10 – 82.20 levels as dollar traded in a subdued fashion in early Asian trade, clinging on to overnight gains with expectations growing that the Federal Reserve will tighten monetary policy further next month.
India monetary tightening cycle not over, inflation remains a concern -MPC minutes.
Indian tycoon Birla returns to Vodafone Idea board.
Indian shares subdued on caution ahead of key earnings.
India market regulator bans ex-CEO of Care Ratings for violating securities law.
USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 82.36 (82.24 – 82.11) 81.99
THE FED
The Fed is widely expected to deliver a final 25bps rate increase in May, and then the debate starts over whether the U.S. central bank will hold rates steady for the rest of the year or start delivering cuts towards the end 2023 as the largest economy in the world starts to contract.
THE ECB MINUTES
Investors will also be looking carefully at the release of the minutes from the last meeting of the European Central Bank, due later in the session, for clues about the policymakers' thinking of the extent of future hikes.
THE UK
GBP/USD retracing the strong gains after consumer price data showed Britain was the only country in Western Europe with double-digit inflation in March. Investors now expect the Bank of England to hike by 25 basis points in May before peaking at 5% by September.
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