USDINR gained amid surge in global oil prices

# the trading range for the day is 75.04-76.06.
# The USDINR appreciated as the sharp rise in global oil prices raised concerns about its impact on domestic inflation.
# RBI in its policy review lowered its full-year inflation projection to 5.3% from 5.7%
# India’s benchmark 10-year bond yield closed at a session high of 6.34%, its highest since April 17, 2020.

# The trading range for the day is 86.78-87.92.
# The euro has remained strong as investors continue to brace for higher inflation and a more hawkish response from the world’s major central banks.
# The ECB announced that it would study a new bond buying program for the end of the PEPP
# Wholesale price inflation in Germany has accelerated at its fastest since 1974, according to data from Destatis.

# the trading range for the day is 102.17 to 103.35.
# The British pound remained in the range, with UK employment data broadly in line with expectations, keeping expectations about future Bank of England rate hikes intact.
# UK wants Brexit deal that works for Northern Ireland, minister says
# UK employment hits record high as Bank of England plans first rate hike

# the trading range for the day is 66.25-67.18.
# The yen fell as traders bet surging energy prices would boost demand for Japanese dollars
# Rising inflation in Japan, squeezing corporate profits
# Domestic prices for finished goods, which loosely track the consumer price index, increased 1.8% from the previous year


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Felix J. Dixon

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