Free Trial

Little Changed In Early Trade, Equity Outflows Continue

INR

The Rupee has opened dealing in line with yesterday's closing levels, USD/INR last prints at 83.21/24.

  • On Tuesday firmer Oil prices and broader USD flows saw USD/INR firm ~0.3% to sit a touch off YTD highs and within sight of all time highs for the pair.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 83 handle which intersects with the 20-Day EMA (83.00).
  • Equity outflows continued on Monday with ~$167mn in net outflows, this brings the total in September to ~$1.67bn in total outflows on track be to the highest on record.
  • Data wise the docket is empty until Friday when the August Fiscal Deficit and Eight Infrastructure Industries survey crosses.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.