Sell USDINR; target of : 82.40 : July 11, 2023: ICICI Direct
ICICI Direct, Rupee is likely to appreciate today amid weakness in dollar as the weaker US economic numbers has raised the doubts on further tightening.
Bastille Day welcome for PM Modi as France courts India
President Emmanuel Macron's red carpet welcome comes weeks after Modi was given the rare honour of a White House state dinner in Washington -- a city he was once banned from visiting.
Sell USDINR; target of : 82.50 : July 10, 2023: ICICI Direct
ICICI Direct, Rupee is expected to appreciate today amid weakness in dollar as the softness in June US Job numbers has raised the doubts on further tightening of the interest rates trajectory.
Convertibility needs to precede the internationalisation of the rupee
There are other important prerequisites for achieving internationalisation — the existence of deep and well-functioning domestic financial markets, a trusted legal framework for contract enforcement, low inflation, and stable and predictable macroeconomic policies
Buy USDINR; target of : 82.85 : July 07, 2023: ICICI Direct
ICICI Direct, Rupee is expected to depreciate again today amid strong dollar as the forecast of better job numbers in US would support the hawkish Fed.
Buy USDINR; target of : 82.50 : July 06, 2023: ICICI Direct
ICICI Direct, Rupee is likely to depreciate today amid strong dollar as the hawkish FOMC minutes reinforced the market expectations of another interest rate hike at the July meeting.
Buy GBPINR; target of : 104.55 : July 05, 2023: ICICI Direct
ICICI Direct, Pound is likely to move higher towards 1.2750 amid a weak dollar and forecast of better service PMI numbers.
Yen firms amid intervention chatter, trading subdued on US holiday
The greenback was down 0.18% at 1104 GMT to 144.44 yen, after rising 0.27% on Monday.
Buy USDINR; target of : 82.30 : June 30, 2023: ICICI Direct
ICICI Direct, The US dollar index climbed to a two-week high on Thursday as the US economy grew by an annualized 2% in Q1 2023, well above 1.3% in the second estimate and forecasts of 1.4%.
Dollar index hits two-week high after data; yen remains soft
Weekly initial jobless claims decreased 26,000 to a seasonally adjusted 239,000, the largest drop in 20 months and below the expectation of 265,000 by economists polled from Reuters.
Buy EURINR; target of : 90.20 : June 28, 2023: ICICI Direct
ICICI Direct, The Euro edged higher by 0.50% on Tuesday amid weak US dollar and rise in German 10 year bond yields.
Sell GBPINR; target of : 103.95 : June 26, 2023: ICICI Direct
ICICI Direct, The pound dropped by almost 0.30% on Friday on rising expectations the UK economy could slip into recession after the Bank of England delivered an outsized rate hike in response to persistent inflation.
Dollar gets a safety bid as data spurs growth worries
U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed.
Sell EURINR; target of : 89.70 : June 23, 2023: ICICI Direct
ICICI Direct, The Euro edged down by almost 0.30% on Thursday amid strong US dollar.
Dollar, yields rise after Powell comments, Bank of England rate hike
The Swiss National Bank (SNB) and Norges Bank also hiked their benchmark rates, underscoring worries about global inflation.
Buy EURINR; target of : 90.20 : June 22, 2023: ICICI Direct
ICICI Direct, The Euro edged up by 0.62% on Wednesday amid weak US dollar.
Dollar edges down after Powell testimony
The Fed had left interest rates unchanged at its June meeting but signalled in new projections that borrowing costs may still need to rise by as much as half of a percentage point by the end of this year.
Buy USDINR; target of : 82.30 : June 21, 2023: ICICI Direct
ICICI Direct, The US dollar index rose marginally by 0.05% on Tuesday as the building permits in the United States increased by 5.2% to a seasonally adjusted annual rate of 1.491 million in May 2023, following two consecutive months of decline and surpassing market expectations of 1.42 million.
Sell EURINR; target of : 89.35 : June 20, 2023: ICICI Direct
ICICI Direct, The Euro edged down by 0.18% on Monday amid strong US dollar. However, sharp downside was restricted after two ECB policymakers said the European Central Bank should err on the side of further interest rate hikes as inflation could come in even higher than it expects.
Sell EURINR; target of : 89.55 : June 19, 2023: ICICI Direct
ICICI Direct, The Euro lost its earlier gains and closed with a marginal lass of 0.04% on Friday amid a decline in German 10 year’s bond yields and recovery in the dollar.
Sell USDINR; target of : 81.90 : June 16, 2023: ICICI Direct
ICICI Direct, The US dollar index dropped more than 0.80% after the European Central Bank raised interest rates a day after the Federal Reserve paused its hikes.
Buy EURINR; target of : 89.20 : June 14, 2023: ICICI Direct
ICICI Direct, The Euro gained more than 0.30% after data showed the annual inflation rate in Germany was confirmed at a 14-month low of 6.1% in May 2023
Sell USDINR; target of : 82.30 : June 12, 2023: ICICI Direct
ICICI Direct, US dollar index bounced off two - weeks lows on Friday amid higher treasury yields.
Productivity growth critical for recovery of emerging economies: RBI's Michael Patra
Michael Patra, in a speech delivered at the Sixth Asia KLEMS Conference on Sunday, said it is widely believed that structural slowdown has been spreading across the global economy after growth peaked in 2010.
