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Muted Start, Trade Balance On Tap


The Rupee has opened dealing little changed from Wednesday's closing levels.

  • USD/INR sits at 82.24/25. Participants are digesting yesterday weaker than forecast India CPI print of 5.02% and the marginally higher than expected US CPI print.
  • 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 (83.15), a break through here opens the 83 handle.
  • Due today we have September Trade Balance, a deficit of $23.2bn is expected.

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