Forex Market News

Ways2Capital : GBPINR

GBPINR

* GBPINR trading range for the day is 92.48-93.37.

* GBP remained under pressure after British retail sales recorded their biggest quarterly fall in a year during the three months to March.

* Bank of England Governor Mark Carney dampened widespread expectations for an interest rate hike in May, pointing out there were also “other meetings” this year.

* Expectations of a UK interest rate increase in May has shrunk to around 40 percent from 70 percent.

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Ways2Capital : USDINR

USDINR

* USDINR trading range for the day is 65.84-66.26.

* Rupee dropped after the minutes of monetary policy panel meeting suggested that they were likely to take a more hawkish tone starting as early as June.

* The MPC members flagged several concerns, including an increase in minimum support prices for farmers and high and volatile crude oil prices

* India’s headline inflation was 4.28 percent in March versus a year earlier, easing from 4.44 percent February.

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Ways2Capital : JPYINR

JPYINR

* JPYINR trading range for the day is 61.14-61.4.

* JPY showed little response to the U.S.-Japan summit, at which Trump and Japanese PM Abe agreed to intensify trade consultations between the two longtime allies.

* BOJ offers to buy 125 bln yen in corporate bond (CB) from 4/25

* BOJ offers to supply 800 bln yen in funds at a fixed rate for 4/23 – 5/7 at all offices.

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Forex Market News

Ways2Capital : GBPINR

GBPINR

* GBPINR trading range for the day is 92.99-93.99.

* GBP remained under pressure after British inflation cooled unexpectedly.

* Official data showed annual consumer price inflation fell to 2.5 percent in March, down from 2.7 percent in February and below expectations.

* UK inflation slowed to a one year-low in March, diminishing scope for a rate hike in May as markets widely expect.

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Ways2Capital : EURINR

EURINR

* EURINR trading range for the day is 81.15-81.68.

* Euro under pressure as dollar seen supported by higher long-term U.S. Treasury yields on improving investor appetite for risk assets.

* Inflation in the 19 countries sharing the euro currency rose in March by less than previously estimated, European statistics office Eurostat said.

* Eurozone construction output fell for the second straight month in February, Eurostat reported.

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Ways2Capital : USDINR

USDINR

* USDINR trading range for the day is 65.68-65.93.

* Rupee depreciated seven-month low, weighed by uptick in Brent crude oil prices amid likely FII selling of local debt.

* Meanwhile, dollar demand strengthened on optimism over US economic outlook and expectation of an earlier Fed rate hike.

* Recent spurt in Brent prices have triggered fear that the RBI-MPC may turn cautious by revising inflation projection on the higher side.

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Forex Market News

Ways2Capital : GBPINR

GBPINR

* GBPINR trading range for the day is 92.56-94.54.

* GBP dropped after data showing that Britain’s inflation fell to its lowest in a year in March

* Britain’s finance minister, Philip Hammond, said he welcomed any signs of international confidence in the country’s economy.

* Markets were pricing in a more than an even chance of a May rate increase of a quarter of a percentage point.

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