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Gains In Early Trade, Mfg PMI On Tap


The Rupee has firmed in early dealing USD/INR is down ~0.2%.

  • The pair sits at 82.62/63, yesterday's low has been breached as onshore markets reopen after yesterday's Q2 GDP which printed at 7.8% Y/Y the strongest level in a year.
  • Bears look to target the 200-Day EMA (81.8662). Bulls target the high from 20 October 2022 (83.2975).
  • Global investors purchased a net of $1.6bn in local equities in August, which marked a sixth straight month of inflows into Indian stocks. With this year’s inflows, foreigners are now just $137 million shy of reversing their record $17 billion exodus from the nation’s equities in 2022.
  • On the wires today we have S&P Global Mfg PMI for August, there is no estimate and the prior read was 57.7.

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