USD/INR to hold around 82.00 by Q3 and drift slightly lower to 81.50 by year-end – Commerzbank

FXStreet Insights Team FXStreet

USD/INR has held within a narrow 2.5% range, between 81-83, since the start of the year. Economists at Commerzbank analyze the pair’s outlook.

Strong economic monentum

Reserve Bank of India is content to see a relatively stable USD/INR.

India’s strong economic performance, lower oil and commodity prices, and RBI's rate hikes are supportive factors for the Indian Rupee.

We project the USD/INR pair to hold around the 82.00 level by Q3 2023 and drift slightly lower to 81.50 by end-2023 and to 81.00 by end-2024.

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD holds steady above 1.1850 as markets eye Eurozone GDP, US CPI inflation releases

The EUR/USD pair trades on a flat note near 1.1870 during the early Asian session on Friday. The major pair steadies amid mixed signals from the latest release of US economic indicators. Traders await the preliminary reading of the Eurozone Gross Domestic Product for the fourth quarter and US inflation data, which are published later on Friday.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold: Will US CPI data trigger a range breakout?

Gold retakes $5,000 early Friday amid a turnaround from weekly lows as US CPI data loom. The US Dollar consolidates weekly losses as AI concerns-driven risk-off mood stalls downside. Technically, Gold appears primed for a big range breakout, with risks skewed toward a bullish break.