USDINR
On Friday, We are expecting USDINR commence session within the range between 74.80 – 74.90 levels as greenback held losses to the euro and British pound late on Thursday as currency traders digested moves in interest rate markets, comments by the European Central Bank President Christine Lagarde and a weaker-than-expected U.S. economic report.
Foreign exchange markets have become volatile around central bank activity. Bigger moves started on Wednesday with hawkish comments from the Bank of Canada and were followed on Thursday with an action by the Reserve Bank of Australia and comments by the ECB - all ahead of meetings next week of the U.S. Federal Reserve and the Bank of England.
On Thursday, Indian shares saw their worst one-day fall since April, tumbling nearly 2%, with metal stocks leading losses on easing supply problems. NSE Nifty 50 index and S&P BSE Sensex -1.94% and -1.89% to 17,857.25 and 59,984.70, respectively.
Day Trend: - IN RANGE
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