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USDINR

Observations

USDINR trading range for the day is 81.66-82.14

Rupee strengthened to its highest level in three weeks, helped by likely corporate dollar inflows

India's forex reserves breach $600 billion-mark, hover around 15-month high

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

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

EURINR

Observations

EURINR trading range for the day is 90.28-91.6

Euro dropped following the release of disappointing PMI data.

German economy experienced its most significant contraction since November of the previous year

French output declined for the second consecutive month

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

GBPINR

Observations

GBPINR trading range for the day is 104.52-105.82

GBP dropped after a survey showed Britain's private sector growing at its slowest pace in six months in July.

The pound has fallen for seven days in a row against the dollar, its longest losing streak since mid-March 2020.

The S&P Global/CIPS UK Services PMI dropped to 51.5 in July 2023, down from 53.7 the previous month

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

JPYINR

Observations

JPYINR trading range for the day is 57.77-58.27

USDINR AUG-JUL 0.0825 BUY JPYINR Jul 2023 @ 57.75 SL 57.55 TGT 58-58.2

JPY steadied as investors expect BOJ will be the odd one out as policymakers hike rates in Europe and the United States

The au Jibun Bank Flash Japan Services PMI edged down to 53.9 in July 2023 from a final of 54.0 a month earlier

The au Jibun Bank Japan Manufacturing PMI fell to 49.4 in July 2023 from a final 49.8 in May

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

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