USDINR
On Wednesday, The domestic unit (Rupee) is most likely to commence session with weak sentiment between 79.90 – 80.00 as dollar marched higher on Tuesday after a report on the U.S. services industry in August reinforced the view that the United States was not in recession.
India has set up a panel to review the pricing formula for locally produced gas to ensure a "fair price to the end consumer", according to a government order seen by Reuters, a move aimed at lowering inflation and boosting use of the cleaner fuel.
Deutsche Bank estimates that India's consumer price index (CPI) firmed to 6.9% year-on-year in August, while core inflation likely stood at 6%.
USDINR TECHNICAL
Day Trend: - BUY ON DIP
Weekly Trend: - UPSIDE SELL
INTRADAY RANGE – 80.43 (80.15 – 79.83) 79.71
USA 10 YEAR YIELDS
The yield on benchmark 10-year U.S. Treasury notes jumped 14.3 basis points to 3.35% to highs last seen in June, on expectations the Federal Reserve will keep hiking interest rates as it tightens monetary policy in a bid to quell inflation.
USDJPY
The Japanese yen tumbled trading at 143 level per dollar on early Wednesday session, a fresh 24-year low, as the gap between Japanese monetary policy and that elsewhere becomes ever more stark, weighing on the currency.
Japanese Finance Minister Shunichi Suzuki on Tuesday reiterated that sharp yen moves were "undesirable" and that he was watching rising volatility in the exchange market with a "great sense of urgency" as the currency hit a fresh 24-year low.
AUSTRALIA
The Australian dollar slid to a seven-week low after the Reserve Bank of Australia raised its cash rate by 50 basis points, but signalled it was not on a present path for future rate hikes.
YUAN
The yuan slipping to a fresh two-year low of 6.9784 in offshore trade. The china authorities' efforts to slow the yuan's recent depreciation were proving unsuccessful.
WELCOME TO VOLATILE WORLD
Kommentarer