Indian Rupee likely to start with in range bound as dollar drifted higher on early Asian trade , helped by strong U.S. jobs data as well as firmer global demand for safe-havens amid concerns about the corona-virus recovery, setting the currency up to potentially snap a seven-week losing streak. On Thursday , USDINR again stuck in range between 74.9350 - 74.7875 levels.
India's retail inflation rose to 6.93% in July on higher food prices, remaining above the RBI's medium-term target for a 10th straight month, according to government data released on Thursday.
INTRADAY RANGE - 74.60 ( 74.75 - 74.96)75.09
GLOBAL HIGHLIGHTS
Pound Domination Against Dollar to Continue Despite Rising No-Deal Brexit Risk.
Euro to US Dollar Exchange Rate Edges Higher as French Unemployment Decreases in Second Quarter.
Gold ticks higher on softer dollar; China data in focus.
Oil prices rise, head for weekly gain amid cautious hopes for fuel demand recovery.
China central bank to conduct MLF operations on Monday as 400 billion yuan of such loans expire.
China July industrial output rises 4.8% year-on-year; retail sales down 1.1%.
Mexican central bank cuts key interest rate 50 basis points to 4.5%.
British, Irish PMs upbeat on trade deal after Northern Ireland talks.
MAJOR FX INTRADAY RANGE
EUR/USD - BUY ON DIP
(1.1856 - 1.1772)
GBP/USD - BUY ON DIP
1.3209(1.3114 - 1.3019)1.2924
USD/JPY - HOLD
(107.20 - 106.70)
DOLLAR INDEX - UPSIDE SELL
94.00 ( 93.52 - 93.03 )92.55
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