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Firms Above 20-Day EMA On Friday, Fiscal Deficit On Tap

INR

USD/INR firmed above the 20-Day EMA on Friday as broader USD trends dominated flows.

  • The Rupee is little changed in early dealing, and last prints at 82.2150/2300.
  • Having firmed above the 82 handle and the 20-Day EMA (82.10) on Friday, bulls now target a break of Friday's high (82.34) which opens high from July 7 at 82.75.
  • On Thursday there was a total of $152.43mn in net outflows of Indian equities by foreign investors, trimming last week's inflows to $361mn.
  • Due today is the June Fiscal Deficit and Eight Infrastructure Industries.
  • S&P Global PMI's provide the highlight this week, Mfg PMI is due tomorrow and on Thursday the Services and Composite components cross.

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