INR 82.86-0.05
EUR 1.08186
POUND 1.2632
JPY 150.34
CHF 0.8839
AUD 0.6510
CNY 7.1962
Gold 2046.18
Silver 22.723
BRENT CRUDE 82.15
DOLLEX 104.0607
3M USD SOFR 5.33352
6M USD SOFR 5.27493
1Y USD SOFR 5.07185
Range for the day: 82.80 – 83.00
Rupee is expected to withstand range-bound trading as sticky US PCE fails to create a larger impact for the dollar. With an uptick in monthly PCE and Core PCE figures from 0.1% to 0.3% and 0.4% respectively, the markets continue to expect the 1st rate cut in June. Furthermore, faster-than-expected GDP growth of India at 8.4% against expectations of 6.6%, adds cheer to the rupee. The marginal increase in the inflation indicator has turned the investors risk tolerant, bolstering Asian equities once again while Treasury yields dip from 4.32% to 4.25%. A potential ceasefire in Gaza complicates the war situation in the Middle East, keeping the oil prices above $80 which shall limit rupee’s gains.