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Firmer Start, Docket Empty Today

INR

The Rupee has opened dealing a touch firmer on Tuesday, US Tsy Yields are lower and Oil has marginally pared recent gains.

  • USD/INR has ticked away from the top of the recent range and sits at 83.2250/83.2350 ~0.1% below yesterday's closing levels.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 20-Day EMA (83.13), a break through here opens the 83 handle.
  • Overseas Investors have sold a net $583mn of Indian Equities in the first 4 business days of October, continuing the outflows seen in late September.
  • A reminder that the data docket is empty today. The next release of note is Thursdays Industrial Production.

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