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USDINR

Observations

USDINR trading range for the day is 81.9-82.12

Rupee remained in range on expectations that the central bank would not allow the currency to appreciate significantly.

Retail inflation for farm workers and rural labourers inched up marginally to 6.31 per cent and 6.16 per cent

ADB retains India's growth forecast at 6.4% for current FY

BUY USDINR Jul 2023 @ 81.92 SL 81.78 TGT 82.08-82.2

EURINR

Observations

EURINR trading range for the day is 91.01-91.57

Euro dropped as dollar steadied as data pointed to U.S. labour market resilience

Euro zone consumer confidence rose by 1.0 points in July from the June number

Euro zone gross domestic product was flat in the first three months of this year against the previous quarter

SELL EURINR Jul 2023 @ 91.4 SL 91.6 TGT 91.15-91

GBPINR

Observations

GBPINR trading range for the day is 104.93-106.05

GBP dropped as markets reacted decisively to signs that Britain may finally be turning a page on inflation.

UK consumer confidence declines in July

Retail sales rose by 0.7% in June from May, topping forecasts for an increase of 0.2%.

SELL GBPINR Jul 2023 @ 105.6 SL 105.85 TGT 105.35-105.2

JPYINR

Observations

JPYINR trading range for the day is 57.35-58.95

JPY dropped after BOJ Ueda said there was still some distance to sustainably achieve the central bank’s 2% inflation target The core consumer price index in Japan, rose 3.3% in June 2023 from a year ago

The annual inflation rate in Japan edged up to 3.3% in June 2023 from 3.2% in May

BUY JPYINR Jul 2023 @ 57.75 SL 57.55 TGT 58-58.2

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