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USDINR

Observations

USDINR trading range for the day is 82.74-83.04

Rupee dropped after concerns over the health of the banking sector and weak trade data from China prompted a flight to safety.

The Reserve Bank of India selling dollars at around the 82.80 level was among the main factors preventing further weakness.

Services activity hits 13-year high in July

BUY USDINR Aug 2023 @ 82.8 SL 82.65 TGT 83.08-83.22

EURINR

Observations

EURINR trading range for the day is 90.58-91.42

Euro remained in range due to concerns about global growth and the state of the banking sector, especially in the US.

The annual inflation rate in Germany was confirmed at 6.2% in July 2023, down from 6.4% in June

The latest data showed that Euro Area core inflation did not slow down in July as expected

SELL EURINR Aug 2023 @ 91.1 SL 91.35 TGT 90.8-90.6

GBPINR

Observations

GBPINR trading range for the day is 105.21-105.93

GBP pared gains after a survey showed British retailers logged their slowest sales growth in 11 months in July

UK retail sales growth slows to 9-month low

Speculators cut their bullish sterling positions for the second week in a row in the week to Aug 1.

BUY GBPINR Aug 2023 @ 105.4 SL 105.15 TGT 105.75-105.95

JPYINR

Observations

JPYINR trading range for the day is 57.88-58.44 

JPY weakened as BOJ announced emergency bond purchases to check a surge in 10-year bond yields

Japan's current account surplus jumped to JPY 1,508.8 billion in June 2023

Average cash earnings in Japan increased by 2.3% year-on-year in June 2023, slowing from a 2.9% growth in May

SELL JPYINR Aug 2023 @ 58.4 SL 58.6 TGT 58.1-57.9

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