ICICI Direct, The US dollar slipped on Friday amid a rise in risk appetite in global markets and mixed batch of economic data from country.
November 07, 2022 / 09:42 AM IST
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ICICI Direct’s currency report on USDINR
The US dollar slipped on Friday amid a rise in risk appetite in global markets and mixed batch of economic data from country. US non-farm payrolls data showed more new jobs were added in the economy whereas unemployment rate ticked higher and annual wage increases have eased • Rupee future maturing on November 28 appreciated by 0.70% on Friday amid weakness in the dollar, rise in risk appetite in domestic markets and FII inflows. Meanwhile, a surge in crude oil prices prevented further gains in the rupee • The rupee is expected to appreciate a bit further today amid weakness in dollar and optimistic domestic market sentiments. Meanwhile, US job report has exhibited that wage growth is slowing but not that fast enough to reduce the pace of rate hike. Additionally, surge in crude oil prices will hurt rupee. US$ INR (November) is expected to trade in a range of 81.90-82.30.
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07112022 – currency
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