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Marginally Firmer Start, Docket Empty Today

INR

The Rupee has opened dealing a touch firmer, however ranges for USD/INR remain narrow as the pair continues to consolidate above the 83.20 handle.

  • USD/INR sits at 83.2150/83.2250, ~0.05% lower than yesterday's closing levels.
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bears immediate focus is the 20-Day EMA (83.14), a break through here opens the 83 handle.
  • A reminder that the data docket is empty today. The next release of note is tomorrow September CPI print, inflation is expected to tick lower to 5.40% Y/Y. Also due is August Industrial Production which is expected to print at 9.0% Y/Y.

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