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Marginally Softer Start, Data Calendar Light

INR

USD/INR is ~0.1% firmer as the Rupee softens in early trade. The pair last prints at 81.95/82.00.

  • The pair has ticked higher in early dealing after printing its lowest level since mid-May on Friday as broader USD trends dominate.
  • On the downside bears target the 200-Day EMA at 81.47. Bulls look to break the 20-Day EMA (82.33) to turn the tide.
  • Total equity inflows for June sit at $1.525bn, Thursday saw the largest inflow of the month with foreign investors buying $399.28mn in Indian equities.
  • Looking ahead, the data calendar is light with just Q1 BoP Current Account Balance on the wires which is due between today and month end.

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