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01-01-1970 12:00 AM | Source: Kedia Advisory
USDINR trading range for the day is 82.99-83.23 - Kedia Advisory
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USDINR

Observations

USDINR trading range for the day is 82.99-83.23.

Rupee remained in range aided by the softness in U.S. treasury yields and some easing in the dollar

Indian 10-year government bond yield eased to the 7.21% level after touching a four-month high of $7.25 on August 17th

Consumer inflation soared to 7.4% in July, above the RBI’s upper target threshold of 6%.

BUY USDINR AUG @ 83.05 SL 82.9 TGT 83.22-83.35.

 

EURINR

Observations

EURINR trading range for the day is 90.18-90.68.

Euro dropped amid deepening concerns of prolonged hawkish monetary policy from Fed.

Data showed further signs of weakness for the euro area economy

Industrial output jump gives euro zone growth small boost

SELL EURINR AUG @ 90.6 SL 90.8 TGT 90.32-90.18.

 

GBPINR

Observations

GBPINR trading range for the day is 105.3-106.2.

GBP seen pressure as traders factored in higher BOE interest rate expectations in light of recent inflation and wage data.

Data showed British wage growth at a record high, and the latest inflation figures showed core prices coming in hotter than expected.

Traders are predicting around an 88% chance of a 25 basis point hike from the BoE at its next meeting on Sept. 21.

SELL GBPINR AUG @ 106.2 SL 106.5 TGT 105.88-105.68.

 

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