USDINR
On Friday, USDINR is likely to commence 1 rupee Gap down between 80.70 – 80.80 levels against yesterday closing 81.80/81 levels as dollar fell sharply overnight after U.S. consumer prices rose less than expected in October to suggest underlying inflation is cooling, data that Wall Street cheered as it may allow the Federal Reserve to get less aggressive with interest rate hikes.
Day Trend: - HOLD
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 81.45 (81.05 – 80.65) 79.46
USA CPI DATA
The annualized increase in headline inflation slid below 8% for the first time in eight months. CPI rose 7.7% in October on a year-over-year basis, down from 8.2% in the prior month, as headline inflation fell below 8% for the first time since February.
Fed funds futures priced in a drop in expectations for the U.S. central bank's peak target rate, which fell below 5%. The likelihood of a 50-basis-point rate hike by the Fed instead of a 75-basis-point increase in December rose to 71.5%.
KOREAN WON
On Friday, South Korea's central bank governor said recent dollar/won movement was in line with his expectations, as currency market movements seem to have stabilized compared with a month earlier.
THE METALS
On Friday, Gold prices stuck to a 2-½ month high and were set for their best week in over eight months as well as Metal markets across the board were boosted by a softer-than-expected CPI inflation reading.
ENJOY WEEKEND🍕🏠🎉 WITH POSITIVE NOTE OF MARKET
Comments