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Muted Start For Rupee, Mfg PMI On Tap

INR

The Rupee has opened dealing little changed from yesterday's closing levels in a muted start to Wednesday's session.

  • USD/INR prints at 82.25/26, the pair continues to consolidate in a narrow range above the 20-Day EMA (83.2120).
  • Technically the pair remains in an uptrend, bulls target the high from 20 October 2022 (83.2975). Bear's immediate focus is the 83 handle, a break of the handle opens low from 22 Sep (82.8325).
  • RBI Gov Das noted yesterday at a banking conference in Mumbai taht he expects Q2 GDP to surprise to the upside (BBG).
  • On the wires in ~90 minutes is the S&P Global Mfg PMI for October, there is no estimate and the prior read was 57.5.

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