INR 82.90+0.01
EUR 1.08335
POUND 1.26691
JPY 150.457
CHF 0.87978
AUD 0.65221
CNY 7.1977
Gold 2031.16
Silver 22.448
BRENT CRUDE 83.23
DOLLEX 103.9078
3M USD SOFR 5.34316
6M USD SOFR 5.29249
1Y USD SOFR 5.09384
Range for the day: 82.80 – 83.00
The INR shall continue to trade sideways as dollar weakens post yesterday’s release of weaker US Durable goods data. The annual US Durable good orders declined by 6.1% against expectations of 4.9% decline, raising “soft-landing” bets for the US economy. However, the US GDP release due later today and PCE data due tomorrow, shall keep the dollar relatively steady. Following these key data releases, the Asian equities will continue to trade with under pressure with shifts in investor’s risk sentiment. Moreover, rise in oil prices amidst an extension in OPEC production cuts adds pressure on the rupee.