USDINR : Fundamental View : 18.11.2019
* Indian Rupee depreciated by 0.7 percent last week while the Dollar index decreased by 0.19 percent during the same time frame. Meanwhile, India’s factory output shrinks to 4.3 percent for Sep’19
the lowest in last eight years. CPI from India came in at 4.62 percent which is higher than RBI’s medium target of 4 percent.
* CPI from US came in at 0.4 percent against market expectations of 0.3 percent for Oct’19. PPI from US came in at 0.4 percent for Oct’19 against market expectations of 0.3 percent.
* Donald Trump said that trade talks with China were moving along “very nicely” but the United States would only make a deal with Beijing if it was the right one for America. Meanwhile, Federal Reserve Chairman Jerome Powell in his latest testimonial stuck to his view that interest rates are probably on hold after three straight reductions, while signalling that the U.S. central bank could resume cutting if the growth outlook falters.
* In the coming week, movement in USDINR will be driven by GDP data from India and FOMC meeting minutes.
* USDINR is expected to move lower in today’s session.
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the lowest in last eight years. CPI from India came in at 4.62 percent which is higher than RBI’s medium target of 4 percent.
* CPI from US came in at 0.4 percent against market expectations of 0.3 percent for Oct’19. PPI from US came in at 0.4 percent for Oct’19 against market expectations of 0.3 percent.
* Donald Trump said that trade talks with China were moving along “very nicely” but the United States would only make a deal with Beijing if it was the right one for America. Meanwhile, Federal Reserve Chairman Jerome Powell in his latest testimonial stuck to his view that interest rates are probably on hold after three straight reductions, while signalling that the U.S. central bank could resume cutting if the growth outlook falters.
* In the coming week, movement in USDINR will be driven by GDP data from India and FOMC meeting minutes.
* USDINR is expected to move lower in today’s session.