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USDINR

Observations

USDINR trading range for the day is 83.76-83.84.

Rupee remained in range pressured by strong dollar demand from local oil companies, likely related to month-end payments.

India's foreign exchange reserves rose for a third straight week, hitting a lifetime high of $670.86 billion

The HSBC India Services PMI increased to 61.1 in July 2024 from 60.5 in June

BUY USDINR AUG @ 83.8 SL 83.7 TGT 83.9-84.

EURINR

Observations

EURINR trading range for the day is 90.74-91.22.

Euro remained in range after a survey showed German business activity unexpectedly contracted in July

Euro zone business growth stalls in July, PMIs show

Euro zone lending rebounds as rates fall from highs

SELL EURINR AUG @ 91.1 SL 91.3 TGT 90.8-90.6.

GBPINR

Observations

GBPINR trading range for the day is 107.66-107.86.

GBP fell slightly as investors increased their wagers on Bank of England rate cuts in 2024.

Sentiment in the UK manufacturing sector fell to -9 in July 2024, after rising to 9 in April

The Confederation of British Industry survey's total order book balance in UK declined to -32 in July 2024 from -18 in June

SELL GBPINR AUG @ 108 SL 108.3 TGT 107.7-107.5.

JPYINR

Observations

GBPINR trading range for the day is 107.66-107.86.

GBP fell slightly as investors increased their wagers on Bank of England rate cuts in 2024.

Sentiment in the UK manufacturing sector fell to -9 in July 2024, after rising to 9 in April

The Confederation of British Industry survey's total order book balance in UK declined to -32 in July 2024 from -18 in June

SELL GBPINR AUG @ 108 SL 108.3 TGT 107.7-107.5.