USDINR trading range for the day is 78.6-79.82 - Kedia Advisory
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USDINR
* USDINR trading range for the day is 78.6-79.82.
* USDINR rose as India's dominant services industry growth eased to a four-month low in July.
* India will not slip into recession, stagflation
* Indi's July preliminary trade deficit widens to $31 billion
EURINR
* EURINR trading range for the day is 80.2-81.56.
* Euro gained amid weakness in Rupee after pressure seen as investors try to assess the economic outlook and look for further signs that a recession is coming.
*Euro zone business activity contracted in July as customers stayed home
* Flash figures showed the Euro Area grew by 0.7% on quarter in Q2, prompted by surprising growth in France, Italy and Spain
GBPINR
* GBPINR trading range for the day is 95.76-97.4.
* GBP rose as traders await the Bank of England monetary policy decision this week.
* Investors bet an 80% chance of a 50bps hike, which would be the biggest interest rate increase in 27 years
* British businesses do not expect any growth over the next three months, as a surging cost of living squeezes consumer demand
JPYINR
* JPYINR trading range for the day is 58.71-60.25.
* 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)