Free Trial

CPI Back Within RBI Band, March Trade Balance On Tap

INR

USD/INR has opened dealing 81.95/82.00 the pair is ~0.1% softer this morning reflecting broader greenback trends observed in USD/Asia today

  • Technically we continue to consolidate. Bears look to target the 200-Day EMA at 81.09. Bulls look to target the 83 handle, however they will first need to clear the 20-Day EMA (82.23).
  • March CPI printed a touch below expectations yesterday at 5.66%, CPI is now back within the RBIs target band. The print was the lowest since December 2021.
  • Feb Industrial Production was firmer than expected at 5.6% above the expected 5.0%. January's print was revised higher to 5.5%.
  • On the wires today we have March Trade Balance, a deficit of $18.2bn is expected.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.