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Flat Start, November CPI Headlines Docket

INR

The Rupee has opened dealing little changed in a muted start to Monday's dealing. Onshore participants are digesting a firm NFP print and rise in US Tsy Yields on Friday.

  • USD/INR sits at 83.38/39.
  • The pair continues to see-saw around the 20-Day EMA (83.33) as moves have little follow through. The uptrend in USD/INR remains intact, bulls target 10 Nov's cycle high (83.50). A breakthrough here opens 83.9316, a Fibonacci projection. On the downside bears immediate focus is on the 83 handle. The 200-Day EMA comes in at 82.5347.
  • A reminder that on Friday, Official reserve assets of India rose $6.11b from the previous week to $604b on Dec. 1 (RBI).
  • On the wires tomorrow is November CPI, which headlines the docket and is expected to tick higher to 5.78% Y/Y, and October Industrial Production. Due sometime between Wednesday and Friday is November Trade Balance.

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