INR 83.35-0.03
EUR 1.07751
POUND 1.25768
JPY 151.562
CHF 0.90832
AUD 0.6514
CNY 7.2312
Gold 2283.4
Silver 26.376
BRENT CRUDE 89.15
DOLLEX 104.7374
3M USD SOFR 5.30812
6M USD SOFR 5.25134
1Y USD SOFR 5.07241
Range for the day: 83.25 – 83.50
The local unit is expected to continue to trade range bound as weaker US labor market data limits dollar’s upside potential. The US Job openings data failed to meet expectations of 8.760M and came in at 8.756M. However, the factory orders surpassed expectations of 1.1% and resulted at 1.4%. Moreover, the uptick in US Treasury yields boosts keeps the dollar supportive. Moreover, the earthquake in Taiwan poses concerns over possible disruptions to vital chip making industry which deepens Asian markets and Wall street losses. The domestic equities are expected to trade in red once again tracking losses in US and Asian equities. Oil prices nearing $90/bbl amidst tight supply concerns adds misery to the unit. However, RBI intervention along with signs of reversal in Euro, fear of intervention by BOJ for Yen and positive economic outlook of China supporting the Yuan shall extend support to the rupee.