USDINR
The Domestic unit is in very serious trouble, it seems on Friday USDINR hit another historical high above 82.00 levels, We are expecting pair commence session between 82.20-82.30 levels as dollar rose climbing for a second straight session, and The World Bank trimmed India's growth forecast for this financial year India's forecast was trimmed to 6.5% from 7.5%.
The World Bank Predicted a 9.5% contraction in crisis-hit Sri Lanka, as rising commodity prices and debt trouble hit economies in South Asia.
Growth estimates for the region - comprising India, Pakistan, Afghanistan, Bangladesh, Sri Lanka, Nepal, Bhutan and the Maldives - were revised down to 5.8% from 6.8% forecast in June.
USDINR INTRADAY TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – (82.45 – 82.03) 81.61
THE DOLLAR
On Friday, The dollar was strongly poised buoyed by a chorus of hawkish Federal Reserve speakers and as investors bet a solid jobs data later in the day will keep the world's biggest central bank on its aggressive tightening path to tame inflation.
THE EURO
The euro was down 0.9% against the dollar at $0.9792, earlier falling after the release of European Central Bank minutes from last month's meeting that showed policymakers were worried that inflation could get stuck at exceptionally high levels.
German government expects Europe's largest economy to slide into recession next year, contracting 0.4% as an energy crisis; rising prices and supply bottlenecks take their toll.
THE CABLE
Britain's battered pound will be around 3.6% stronger in a year, according to a Reuters poll in which analysts were divided, however, on whether the currency would reach parity with the U.S. dollar by year-end after it sank to a record low last week.
Sterling dived to an all-time low in Asian trade on Sept. 26, extending losses from the week before after new Finance Minister Kwasi Kwarteng unveiled historic tax cuts and the biggest increase in borrowing since 1972 to pay for them.
When central bank not come into play then what investors do?
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