USDINR Remained In Range After RBI Announced New Loan-Relief Measures

  • 2 months ago
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# trading range for the day is 74.05-74.45.
# USDINR remained in range after RBI announced new loan-relief measures for small businesses and pledged to inject INR 500 billion of liquidity
# RBI Governor Das says forex reserves of USD 588 billion give us the confidence to deal with global spillovers.
# The IHS Markit India Services PMI declined to 54.0 in April of 2021 from 54.6 in the previous month

# trading range for the day is 88.91-89.53.
# Euro settled flat as the Eurozone manufacturing activity logged a record expansion in April
# Driven by rising market confidence, manufacturing output and new orders remained close to March’s survey records.
# Germany’s retail sales grew at a much faster pace in March, data from Destatis showed.

# trading range for the day is 102.97-103.49.
# GBP gained as UK manufacturing sector grew at the fastest pace on record in April underpinned by production and new orders
# Support also seen amid signs the UK economy is rebounding from the pandemic, helped by the country’s gradual reopening of its economy
# The BoE is expected to announce tapering or a reduction in the pace of its bond purchases at its meeting.

# trading range for the day is 67.78-68.09.
# JPY settled flat as the dollar tried to extend a rally as chatter about the possibility of higher U.S. interest rates soured risk sentiment to the benefit of the safe-haven currency.
# The au Jibun Bank Japan Manufacturing PMI rose to 53.6 in April, the 3rd straight month of growth and the strongest since April 2018
# While the consumer confidence index decreased by 1.4 points from the previous month to 34.7.



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