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USDINR

Observations

USDINR trading range for the day is 84.38-84.48.

Rupee fell pressured by the dollar's rise to a more than four-month peak and on likely outflows from local equities.

The annual inflation rate in India soared to 6.21% in October of 2024 from 5.49% in the previous month

State-run banks were spotted offering dollars, likely on behalf of the Reserve Bank of India.

BUY USDINR NOV @ 84.4 SL 84.32 TGT 84.48-84.55.

EURINR

Observations

EURINR trading range for the day is 89.52-90.32.

Euro fell as traders closely monitor both economic and monetary developments and the political situation in Germany.

The annual inflation rate in Germany was confirmed at 2.0% in October 2024

Retail Sales in the Euro Area increased 0.50 percent in September of 2024 over the previous month.

BUY EURINR NOV @ 89.7 SL 89.5 TGT 89.9-90.1.

GBPINR

Observations

GBPINR trading range for the day is 107.83-108.97.

GBP dropped pressured by a broadly stronger dollar amid expectations that policies under Donald Trump could drive up inflation.

The United Kingdom’s unemployment rate rose to 4.3% from July to September 2024, up from 4%

The number of payrolled employees in the United Kingdom decreased by 5 thousand to 30.4 million in October 2024

BUY GBPINR NOV @ 107.5 SL 107.2 TGT 107.8-108.

JPYINR

Observations

JPYINR trading range for the day is 54.2-55.2.

JPYINR DEC-NOV 2.4125 BUY JPYINR NOV @ 54.4 SL 54.2 TGT 54.6-54.8. JPY dropped weighed down by the dollar’s strength amid expectations that robust US economic growth.

Summary of opinions from BOJ’s October policy meeting revealed a divide among policymakers over the timing of future interest rate hikes.

Finance Minister Katsunobu Kato warning that Japan would take "appropriate action" to address extreme fluctuations in the foreign exchange market.

BUY JPYINR NOV @ 54.4 SL 54.2 TGT 54.6-54.8.