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Firmer Start; Wholesale Prices, Trade Balance On Tap

INR

The Rupee has opened dealing firmer, USD/INR has fallen ~0.2% and is dealing below at 82 handle.

  • The pair last prints at 81.93/96 and a touch off its lowest level since July 4, falling 1% since last Friday.
  • Technically the 20-Day EMA has been cleared, now bears focus on the 200-Day EMA (81.5809). Bulls look to break the high from 7 July (82.7562).
  • On the wires today we ahve June Wholesale Prices, a fall of 3.30% is expected. Wholesale Prices fell 3.48% in May.
  • Also due to cross is the June Trade Balance, a deficit of $20.22bn is forecast.

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