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USDINR

Observations

USDINR trading range for the day is 82.89-83.31.

Rupee dropped amid signs of escalating tensions in the Black Sea and mounting concerns in China.

Retail price inflation in India jumped to 7.44% in July 2023, the highest since April 2022

India's merchandise trade deficit narrowed to USD 20.67 billion in July 2023

BUY USDINR AUG @ 83.1 SL 82.95 TGT 83.32-83.48.

EURINR

Observations

EURINR trading range for the day is 90.59-91.31.

Euro remained in range as investors are divided on whether the ECB will deliver another interest rate increase.

Data showed that core inflation in the Euro Area did not slow down in July as anticipated

Euro zone producer prices fell for a sixth consecutive month and by more than expected in June, data showed

SELL EURINR AUG @ 91 SL 91.22 TGT 90.75-90.58.

GBPINR

Observations

GBPINR trading range for the day is 104.92-105.98.

GBP gains as a positive growth surprise in the British economy firmed expectations of further tightening.

The UK GDP expanded by 0.2% in the second quarter, surpassing market expectations

The UK trade deficit shrank to £4.79 billion in June 2023 from an upwardly revised £7.66 billion in May

BUY GBPINR AUG @ 105.5 SL 105.2 TGT 105.85-106.05.

JPYINR

Observations

JPYINR trading range for the day is 57.31-57.65.

JPY remained in range as traders looked for clues on possible intervention.

Investors anticipated several domestic data, including Japan's GDP and CPI data as well as trade figures this week.

Producer prices in the country rose the least in over two years and slowed for the 7th straight month in July.

SELL JPYINR AUG @ 57.4 SL 57.65 TGT 57.15-57.

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