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Muted Start, Wholesale Prices On Tap


The Rupee has opened dealing little changed this morning, USD/INR remains well within recent ranges and there has been little follow through on moves.

  • USD/INR last prints at 83.23/24, the pair continues to consolidate in a narrow range between the 20-Day EMA (83.17) and 83.30 handle.
  • 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, a break through here opens the 83 handle.
  • Equity Outflows moderated a touch last week and we now sit at an outflow of ~$830mn in October.
  • On the wires today we have September Wholesale Prices, a rise of 0.38% Y/Y is expected. The data docket is empty for the remainder of the week.

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