USDINR
On Thursday, USDINR is most likely to commence session weaker note between 72.95 – 73.05 level as greenback loitered around multi-week lows, pressured by softer-than-expected U.S. labour data as traders awaited a fuller jobs readout, which is expected to guide the timing of Federal Reserve's pullback in bond buying.
Indian factory activity expanded at a slower pace last month as persistent pandemic-related weakness weighed on demand and output, forcing firms to cut jobs again following a brief recovery in July.
The Manufacturing Purchasing Managers' Index, compiled by IHS Markit, fell from July's three-month high of 55.3 to 52.3 in August but stayed above the 50-level that separates growth from contraction on a monthly basis.
The US Dollar was also dented overnight by a rising euro, which climbed to a one-month high of $1.1857 after a survey showed strong European manufacturing growth coupled with inflationary pressure from supply-chain snarls.
Day Trend: - UPSIDE SELL (pair try to jump).
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