Indian Rupee Trading Weaker In NDF Market On Covid-19 Woes

Indian Rupee Trading Weaker In NDF Market On Covid-19 Woes

13 Apr 2021 10:20 AM
 

USD/INR

Indian currency markets will be closed today and tomorrow for a local holiday. Rupee is trading weaker at 75.08/09 in the NDF market. March inflation figures are due out of the US and will be the key driver.

EUR/USD

It’s a relatively busy day for Euro on the economic calendar. ZEW Economic Sentiment figures for Germany and the Eurozone are due out and are expected to influence the pair. Coronavirus news and advancements in the vaccine drive will remain the key driver. At the time of writing, Euro was down 0.16% to $1.1890.

GBP/USD

It’s an eventful day for Pound on the economic calendar. 3-month rolling GDP, manufacturing and industrial production and trade data are due out with the GDP and manufacturing production expected to influence the most. Brexit updates will also be in focus. At the time of writing, Pound was down 0.06% to $1.3736.

USD/JPY

It’s a quiet day for Yen on the economic calendar. With no material data due out of Japan, it is left in the hands of US inflation figures. Expect plenty influence on the US treasury yields which in turn will determine Yen’s move. At the time of writing, Yen was up 0.33% to $109.70.

                                                                                                                                                                                             

Important data releases today

Time

CCY

Event

Forecast

Previous

11:30

GBP

GDP (YoY)

-7.3%

-9.2%

11:30

GBP

GDP (MoM)

0.6%

-2.9%

11:30

GBP

Manufacturing Production (MoM) (Feb)

0.5%

-2.3%

11:30

GBP

Monthly GDP 3M/3M Change

-

-1.7%

14:30

EUR

German ZEW Economic Sentiment (Apr)             

79.0

76.6

18:00

USD

Core CPI (MoM) (Mar)

0.2%

0.1%