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USDINR

Observations

USDINR trading range for the day is 82.89-82.99.

Rupee ended barely changed even as most Asian currencies slipped, pressured by an uptick in U.S. bond yields

The US ISM Services PMI fell to 52.6 in February 2024 from a four-month high of 53.4 in January

A slowdown in growth in new orders and output led to service activity easing to 60.6 in February

SELL USDINR MAR @ 83 SL 83.1 TGT 82.9-82.8.

EURINR

Observations

EURINR trading range for the day is 89.97-90.15.

Euro steadied as investors braced themselves for the upcoming ECB policy meeting

Spain Services PMI rose to 54.7 in February 2024, up from 52.1 in January

Italy Services PMI rose to 52.2 in February 2024 from 51.2 in January

SELL EURINR MAR @ 90.1 SL 90.3 TGT 89.9-89.7.

GBPINR

Observations

GBPINR trading range for the day is 105.06-105.38.

GBP gains amid caution ahead of the United Kingdom’s Spring budget and packed US economic calendar.

The S&P Global UK Composite PMI came in at 53.0 in February 2024

Retail sales in the United Kingdom rose 1% on a like-for-like basis in February 2024 from a year ago

SELL GBPINR MAR @ 105.3 SL 105.6 TGT 105-104.8.

JPYINR

Observations

JPYINR trading range for the day is 55.32-55.48.

JPY steadied as investors digested data showing Tokyo’s core inflation rate, accelerated to 2.5% in February.

Japan Services PMI was revised higher to 52.9 in February 2024 from the flash reading of 52.5

Bank Japan Composite PMI was revised upward to 50.6 in February 2024 from 50.3 in flash data

SELL JPYINR MAR @ 55.5 SL 55.7 TGT 55.3-55.1.