SELL JPYINR AUG @ 56.7 SL 56.9 TGT 56.45-56.25 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.54-82.78.
Rupee snapped a three-day rally to close weaker but notched its best week in a month-and-a-half
Fed may need to implement additional interest rate hikes in order to effectively manage inflation
India economic growth likely accelerated to 7.7% in the April-June quarter, the fastest annual pace in a year
SELL USDINR AUG @ 82.75 SL 82.88 TGT 82.58-82.44.
EURINR
Observations
EURINR trading range for the day is 88.92-89.58.
Euro dropped after data showed German and Eurozone business activity slumped more than expected in August
The German economy stagnated in the second quarter of 2023 compared to the previous three months
Eurozone business activity contracted by the most since November 2020
SELL EURINR AUG @ 89.4 SL 89.6 TGT 89.15-89.02.
GBPINR
Observations
GBPINR trading range for the day is 103.68-104.64.
GBP dropped as investors rein in expectations of where they think BOE’s interest rate might peak after recent soft activity data.
S&P Global's flash purchasing managers' index (PMI) for August, showed business activity contracted
UK economy was on course to shrink in the third quarter and prompting markets to scale back tightening bets.
SELL GBPINR AUG @ 104.4 SL 104.65 TGT 104.1-103.95.
JPYINR
Observations
JPYINR trading range for the day is 56.5-56.84
JPY dropped as dollar seen supported as investors reassessed the outlook for US monetary policy.
Core inflation in Japan's capital slowed in August but remained well above the central bank's 2% target
The au Jibun Bank Japan Manufacturing PMI edged up to 49.7 in August 2023 from 49.6 in July
SELL JPYINR AUG @ 56.7 SL 56.9 TGT 56.45-56.25.
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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)
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