USDINR
On Tuesday, USDINR is likely to commence between 82.30-82.40 levels as dollar trading in a narrow range as investors remained cautious ahead of several key policy decisions due this week, with the Federal Reserve expected to keep rates on hold for the first time since January 2022.
India's retail inflation eases to a more than 2-year low in May
India's industrial output rose 4.2% y/y in April
Cyclone likely to hit India's west coast, south Pakistan on Thursday
India imposes wheat stock limit to arrest price rise
India's top court backs Delhi ban on bike taxis in setback for Uber
USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 82.54 (82.46 – 82.38) 82.30
THE YUAN
China's offshore yuan extended losses to trade at its lowest level against the greenback since November as recent soft data has raised expectations for monetary easing from the People's Bank of China this year. The dollar was last up 0.19% at 7.1575.
THE USDJPY
The Japanese yen slipped to 139.55 per U.S. dollar, before a two-day meeting by the BOJ, which is expected to maintain its ultra-loose monetary policy and forecast a moderate economic recovery, as robust corporate and household spending cushion the blow from slowing overseas demand, sources told Reuters. The BOJ announces its policy decision on Friday.
THE OIL
Oil prices fell by around $3 a barrel after analysts highlighted rising global supplies and concerns about demand growth just ahead of key inflation data and a U.S. Federal Reserve meeting later this week.
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