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Rupee Marginally Firmer To Start, CPI & Industrial Production On Tap

INR

USD/INR has opened dealing ~0.1% softer, the pair sits a touch above the 82 handle.

  • Broad based USD trends have dominated in recent sessions, the pair recovered above 82 after breaking the handle last week.
  • Bears look to target the 200-Day EMA at 81.09. Bulls look to target the 83 handle, however they will first need to clear the 20-Day EMA (82.23).
  • March CPI is due today, the Bloomberg median survey expects a print of 5.70% Y/Y which would be the lowest print since December 2021.
  • February's Industrial Production is expected to ease from 5.2% in January to 5.0%.

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