JPYINR trading range for the day is 58.58-59.18 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 81.91-82.15
Rupee ended slightly higher, as broad weakness in the greenback and corporate dollar inflows helped offset demand from importers.
The US economy expanded an annualized 2.4% in Q2, higher than 2% in the previous period India
GDP to grow 6-6.3% in FY24, economic prospects brighten
BUY USDINR Aug 2023 @ 82 SL 81.85 TGT 82.18-82.32
EURINR
Observations
EURINR trading range for the day is 90.89-91.75
Euro strengthened as dollar dropped after Fed raised the fed funds rate by 25bps as expected
The European Central Bank raised interest rates by 25 basis points, a ninth consecutive rate hike
The Eurozone economy has been showing signs of weakness while inflation remains almost 3 times above the target.
SELL EURINR Aug 2023 @ 91.2 SL 91.4 TGT 90.9-90.7
GBPINR
Observations
GBPINR trading range for the day is 105.89-106.69
GBP rose amid weakening dollar after the U.S. central bank raised the cost of borrowing again.
The retail sales balance in the UK, dropped to -25 in July 2023 from -9 in the previous month
The latest PMI survey showed that UK business activity growth slowed sharply in July to a six-month low
SELL GBPINR Aug 2023 @ 106 SL 106.3 TGT 105.65-105.4
JPYINR
Observations
JPYINR trading range for the day is 58.58-59.18
JPY settled flat driven by speculations that Fed interest rate hike could be the last in its current monetary policy tightening cycle
BOJ is expected to maintain its ultra-easy monetary policy despite higher global rates.
The au Jibun Bank Flash Japan Services PMI edged down to 53.9 in July 2023 from a final of 54.0 a month earlier
USDINR SEP-AUG 0.0775 BUY JPYINR Aug 2023 @ 58.8 SL 58.6 TGT 59.05-59.2
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EURINR trading range for the day is 89.13 - 89.49. - Kedia Advisory
![Euro remained under pressure on Thursday amid weaker set of economic numbers from Euro zone - ICICI Direct](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/c49d5573f54fd1fe07309fbce5369a52.jpg)
![USDINR is trading near all time low and we might see some RBI intervention but as long as 82.80 - Tradebulls Securities](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/0732326f21b0692a41afc4432d1a7a56.jpg)
![GBPINR broke down below its 100 DMA yesterday and closed with a big bearish candle around 103.82 - Swastika Investmart](https://portfolio.investmentguruindia.com/investmentguruimages/upload/post/2023/09/842b8e5254d53919452a82c7f06190bd.jpg)