USDINR
On Tuesday, USDINR is likely to commence in range bound between 82.70 – 82.80 levels as dollar was parked below recent peaks, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - HOLD
INTRADAY RANGE – 82.90 (82.78 – 82.65) 82.53
THE DOLLAR
Strong U.S. labour data and sticky inflation have raised U.S. rate expectations and supported the dollar's rally so far this month - Tuesday's European and U.S. manufacturing data and Friday's core PCE price index will guide the next steps.
THE NZDUSD
The New Zealand dollar in rage ahead of a central bank meeting on Wednesday. Markets are pricing a 50 bp hike to bring New Zealand's benchmark interest rate to 4.75% and are also weighing the economic impact of Cyclone Gabrielle.
THE SEKUSD
Swedish crown jumped as inflation turned sticky and central bank minutes showed policymakers prepared to keep hiking.
THE RBA
The Reserve Bank of Australia had considered raising interest rates by 50 basis points during its February meeting, the minutes of the bank’s meeting showed on Tuesday, as it struggled to bring down inflation from overheated levels.
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