Buy GBPINR SEP @ 104.2 SL 103.95 TGT 104.5-104.72 - Kedia Advisory
USDINR trading range for the day is 82.71-83.35.
Rupee closed weaker as the local unit slipped to the 83 level for the first time in nearly two weeks
The S&P Global India Services PMI dropped to 60.1 in August 2023 from an over 13-year high of 62.3 in the previous month
The S&P Global India Composite PMI fell to 60.9 in August 2023, slightly slowing from a record of 61.9 in the previous month
BUY USDINR SEP @ 83 SL 82.86 TGT 83.18-83.32.
EURINR trading range for the day is 89.12-89.68.
Euro depreciated driven by investor expectations that ECB may maintain its current interest rates at the upcoming meeting
ECB's Lane acknowledged that the inflation of goods and services has moderated, and he anticipates a slowdown in core inflation
Euro zone investor mood darkens in Sept -survey
SELL EURINR SEP @ 89.45 SL 89.65 TGT 89.2-89.02.
GBPINR trading range for the day is 103.73-104.95.
GBP remained under pressure after data showed a contraction in British activity in August
The S&P Global/CIPS UK Composite PMI was revised higher to 48.6 in August 2023 from a preliminary estimate of 47.9
Retail sales in the United Kingdom jumped 4.3% on a like-for-like basis in August 2023 from a year ago
BUY GBPINR SEP @ 104.2 SL 103.95 TGT 104.5-104.72.
JPYINR trading range for the day is 56.57-56.89.
JPY dropped as dollar continued to strengthen despite growing expectations that Fed is likely done hiking rates this year.
BOJ will be able to gradually shift away from its easy monetary policy only after ensuring its 2% inflation goal has been sustainably achieved
The au Jibun Bank Japan Services PMI stood at 54.3 in August 2023, unchanged from a preliminary reading, and after a final 53.8 in July
SELL JPYINR SEP @ 56.7 SL 56.9 TGT 56.45-56.3.
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'India's G20 Presidency opportune moment to push for strong political signal'
EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
USDINR February futures could trade between 83.10 to 82.30 - HDFC Securities