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USDINR

Observations

USDINR trading range for the day is 82.24-82.44

Rupee ended almost flat as possible dollar inflows negated the impact of a strong dollar index.

India manufacturing PMI edges down to 3-month low

A lower-than-expected inflation in FY24 could boost prospects of GDP growth by increasing real wages

BUY USDINR Aug 2023 @ 82.25 SL 82.12 TGT 82.45-82.55

EURINR

Observations

EURINR trading range for the day is 90.21-90.81

Euro dropped amid the latest signs of major stress across Europe's manufacturing sector.

Europe showed manufacturing activity across the euro zone contracted in July

The HCOB Germany Manufacturing PMI was confirmed at 38.8 in July 2023, the lowest reading since May 2020

BUY EURINR Aug 2023 @ 90.3 SL 90.1 TGT 90.52-90.68

GBPINR

Observations

GBPINR trading range for the day is 105.01-105.87

GBP dropped as investors looked towards an uncertain Bank of England interest rate decision on Thursday.

Data painted a weak picture of the British economy which, although it has been more resilient than expected at the start of the year.

Data showed that British factory output fell at the fastest pace in seven months in July, matching a trend seen around the world.

BUY GBPINR Aug 2023 @ 105.1 SL 104.85 TGT 105.4-105.6

JPYINR

Observations

JPYINR trading range for the day is 57.77-58.19

JPY slipped as the Bank of Japan's steps last week to tweak its yield curve control policy weighed

Japan ministers say BOJ's move wasn't shift in monetary easing

Japan's factory activity contracted at a faster pace in July, a business survey showed, taking a hit from soft orders

SELL JPYINR Aug 2023 @ 57.95 SL 58.15 TGT 57.65-57.45

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