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Kedia Commodities
Published on 04-12-2024 10:40 am
JPYINR
Observations
JPYINR trading range for the day is 56.75-57.15..
JPY gains amid expectations that the Bank of Japan could soon raise interest rates again.
BOJ Governor Kazuo Ueda indicated that further rate hikes are "nearing" as economic data is aligning with expectations.
Geopolitical risks, Trump’s tariff threats and suppressed US bond yields favor JPY bulls.
SELL JPYINR DEC @ 57 SL 57.2 TGT 56.8-56.6.
Click Here : https://tinyurl.com/bp83vmws
(Disclaimer: https://bit.ly/2ziDavw)
Kedia Commodities
Published on 04-12-2024 10:40 am
GBPINR
Observations
GBPINR trading range for the day is 106.84-108.02.
GBP dropped UK retail sales fall unexpectedly in November
Expectations that the Fed will keep rates higher for a longer period underpin the buck.
Reduced bets for another BoE rate cut in December help limit the downside for the pair.
SELL GBPINR DEC @ 107.7 SL 108 TGT 107.4-107.2.
Click Here : https://tinyurl.com/bp83vmws
(Disclaimer: https://bit.ly/2ziDavw)
Kedia Commodities
Published on 04-12-2024 10:40 am
EURINR
Observations
EURINR trading range for the day is 88.89-89.69.
Euro declines amid escalating French government crisis
Growing concerns about a possible government collapse in France undermine the Euro.
US Manufacturing PMI came in stronger than expected in November.
SELL EURINR DEC @ 89.4 SL 89.6 TGT 89.2-89.
Click Here : https://tinyurl.com/bp83vmws
(Disclaimer: https://bit.ly/2ziDavw)
Kedia Commodities
Published on 04-12-2024 10:39 am
USDINR
Observations
USDINR trading range for the day is 84.67-84.97.
Rupee recovered slightly from its record low as dollar demand ebbed towards the close of the session
Dollar-rupee forward premiums slumped on the back of the central bank's swaps with the 1-year implied yield dropping below 2%
India's September quarter GDP growth fell to a multi-quarter low, which likely means that the RBI could lower policy rates sooner than expected
SELL USDINR DEC @ 84.85 SL 84.95 TGT 84.75-84.65.
Click Here : https://tinyurl.com/bp83vmws
(Disclaimer: https://bit.ly/2ziDavw)
Nirmal Bang Securities Pvt Ltd
Published on 04-12-2024 10:02 am
Currency:
The U.S. dollar recovered from a three-week low versus the yen on Wednesday and held its ground against other major rivals as traders pondered the chances of a Federal Reserve interest-rate cut this month.
Click Here : https://tinyurl.com/594433bt
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