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USDINR

Observations

USDINR trading range for the day is 81.95-82.17

Rupee ended mostly unchanged in lacklustre trading as possible buying by the Reserve Bank of India

The yield on the Indian 10-year government bond fell toward the 7.05% mark in July, the lowest in one month

India’s resilience to a deteriorating external backdrop continued to support robust foreign inflows.

BUY USDINR Jul 2023 @ 82.02 SL 81.88 TGT 82.18-82.32

EURINR

Observations

EURINR trading range for the day is 92.01-92.65

Euro strengthened on the back of investor expectations that ECB will continue its rate-hike cycle

The German economy may shrink by more this year than expected only a few weeks ago

In the Eurozone, inflation declined to a 17-month low of 5.5% in June, but the core rate remained stubbornly high at 5.4%

SELL EURINR Jul 2023 @ 92.4 SL 92.6 TGT 92.18-92

GBPINR

Observations

GBPINR trading range for the day is 107.08-107.88

GBP gains in anticipation of key inflation data scheduled for release on Wednesday.

Speculators raised their bullish positions on the currency to the highest since 2014

The upcoming CPI report is expected to indicate a slowdown in the inflation rate to 8.2% in June, the lowest since March 2022

SELL GBPINR Jul 2023 @ 107.4 SL 107.65 TGT 107.15-106.9

JPYINR

Observations

JPYINR trading range for the day is 59.16-59.68

JPY remained in range as investors look ahead to key economic data later in the week, including Japanese trade balance Bank of Japan chief: Global economic outlook is 'highly uncertain'

Investors also assessed Japanese industrial output figures which declined more than anticipated in May.

SELL JPYINR Jul 2023 @ 59.4 SL 59.6 TGT 59.15-58.95

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