USDINR
On Monday, USDINR likely to commence between 82.55 – 82.65 levels as dollar slumped after signs of a less resilient U.S. labor market reduced the outlook for how long the Federal Reserve will keep interest rates higher, while the yen surged on concerns the 10-year Treasury's yield rose above 4%.
USDINR TECHNICAL
Day Trend: - HOLD
Weekly Trend: - HOLD
INTRADAY RANGE – 82.88 (82.75 – 82.62) 82.49
THE DOLLAR
On Monday, The dollar was on the back foot after a miss in U.S. jobs data scaled back market expectations on how much further the Federal Reserve would need to raise rates, while focus in the Asia day was on China's inflation data release.
THE YEN
The yen rose 1.37% to 142.13, a two-week high against the U.S. currency, as the rise in 10-year Treasury's yield above 4% heightened market concerns that Japan might intervene in currency markets.
THE OIL
Oil prices climbed about 3% to a nine-week high as supply concerns and technical buying outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil.
THE CHINA
China's consumer prices due later on Monday, where expectations are for inflation to have held steady at 0.2% in June, likely fuelling investor hopes for further support measures from Beijing.
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