USDINR
Welcome to fresh volatile week, We are expecting USDINR commence on Monday with firm note between 79.75 – 79.85 levels as Interest rate decisions from the Fed, People's Bank of China, and Bank of Japan - the week ahead doesn't get much bigger than that, and it couldn't be coming at a more critical time for Asian and world markets.
The Indian government said in its monthly economic review for August published on Saturday, A sharp rebound in consumer spending and rising employment will sustain economic growth in India in the months ahead.
The Reserve Bank of India said on Friday it will have to front-load its monetary policy to fight stubborn inflation and shield medium-term growth in the world's fifth-largest economy.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - HOLD
INTRADAY RANGE – 79.98 (79.82 – 79.67) 79.51
THE DOLLAR
The U.S. dollar is experiencing a once-in-a-generation rally, a surge that threatens to exacerbate a slowdown in growth and amplify inflation headaches for global central banks. The dollar’s role as the primary currency used in global trade and finance means its fluctuations have widespread impacts. The currency’s strength is being felt in the fuel and food shortages in Sri Lanka, in Europe’s record inflation and in Japan’s exploding trade deficit.
THE JAPAN
A powerful typhoon barrelled through Japan’s main southwest island of Kyushu on Monday, unleashing torrential rains and lashing winds that downed power lines, scrambled transport and caused thousands to evacuate to safety.
Typhoon Nanmadol was near the city of Fukuoka on Monday morning packing maximum sustained winds of 35 meters per second (78 miles per hour). It was expected to dump as much as 400 millimetres (15.7 inches) of rain in parts of the region as it heads in a northeast path that will take it along the west coast of the main island of Honshu, the Japan Meteorological Agency reported.
WELCOME TO VOLATILE WEEK, LET'S MAKE SOME MONEY
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