USDINR trading range for the day is 79.02-80.24 - Kedia Advisory
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USDINR
* USDINR trading range for the day is 79.02-80.24.
* USDINR rose as the country's record trade deficit remained a cause for concern ahead of the Reserve Bank of India's monetary policy decision.
* India's July preliminary trade deficit widens to $31 billion
* The S&P Global India Composite PMI fell to a three-month low of 56.6 in July 2022 from 58.2 in the prior month.
EURINR
* EURINR trading range for the day is 80.13-82.09.
* Euro rose as weakness in Rupee supported after some pressure seen as more data is pointing out that a recession is looming.
* Euro zone consumers brace for recession and high inflation – ECB survey
* German factory orders fall less than expected
GBPINR
* GBPINR trading range for the day is 95.61-97.85.
* GBP dropped as Bank of England raises rates by most since 1995 even as long recession looms
* BoE warned that Britain was facing a recession with a peak-to-trough fall in output of 2.1%
* UK construction activity shrinks for 1st time in 1-1/2 years
JPYINR
* JPYINR trading range for the day is 59.03-59.91.
* JPY dropped as hawkish remarks from US Federal Reserve policymakers hinting at further rate hikes to combat high inflation lifted the greenback.
* The au Jibun Bank Japan Composite PMI was at 50.2 in July 2022, compared with a flash print of 50.6 and after June's final figure of 53.0.
* The au Jibun Bank Japan Services PMI was revised lower to a four-month low of 50.3 in July 2022 from the flash data of 51.2
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
![Euro remained under pressure on Thursday amid weaker set of economic numbers from Euro zone - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c49d5573f54fd1fe07309fbce5369a52.jpg)
![USDINR is trading near all time low and we might see some RBI intervention but as long as 82.80 - Tradebulls Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/0732326f21b0692a41afc4432d1a7a56.jpg)
![GBPINR broke down below its 100 DMA yesterday and closed with a big bearish candle around 103.82 - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/842b8e5254d53919452a82c7f06190bd.jpg)