USDINR advances amid falling crude oil prices and net inflows of dollars

The trading range for the day is 74.31-74.73.
# The USDINR remained in the range amid falling prices and net inflows of dollars via equity purchases by foreign institutional investors.
# Investors also regained confidence as the country announced its October inflation rate at 4.48%, within the RBI’s target range
# India is considering a range of measures, including tax incentives and stricter regulations

# The trading range for the day is 85.17-85.61.
# The euro remained strong as Germany’s inflation rate will drop significantly at the start of next year
# Eurozone industrial production fell less than expected in September, data shows
# Eurozone economy to grow faster than expected this year as it recovers from pandemic-induced recession

# the trading range for the day is 99.79-100.33.
# The British pound remained stable as investors focused on talks on post-Brexit trade deals for Northern Ireland
# UK employers plan only modest pay increases, allaying BoE inflation concerns
# The UK economy grew at a slower pace in the third quarter due to the negative contribution from net trade and recent supply chain challenges

# the trading range for the day is 65.26-65.7.
# The JPY remained strong as markets waited for further clues about the US economy and the likely direction of monetary policy.
# Japan’s economy contracts for the first time in 2 quarters
# BOJ’s Kuroda predicts inflation close to 1% by the middle of next year

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Steve R. Hansen