Buy EURINR NOV @ 89.1 SL 88.9 TGT 89.3-89.5. - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 84.37-84.51.
Rupee ended nearly unchanged supported by the central bank's market intervention.
India's foreign exchange reserves declined for the sixth consecutive week to $675.65 billion
RBI Governor Das stated that the Indian economy and financial sector are in a strong position.
SELL USDINR NOV @ 84.45 SL 84.55 TGT 84.35-84.28
EURINR
Observations
EURINR trading range for the day is 88.7-89.46.
Euro recovers as investors looked ahead to key inflation data from the Eurozone later this week
The European Commission's Autumn 2024 forecast anticipates a 0.8% growth in the Euro Area for this year
Germany’s wholesale prices declined by 0.8% year-on-year in October 2024, slower than a 1.6% fall in the previous month.
BUY EURINR NOV @ 89.1 SL 88.9 TGT 89.3-89.5.
GBPINR
Observations
GBPINR trading range for the day is 106.36-106.96.
GBP dropped from weak UK economic data and a surging dollar Bank of England's Mann sees upward inflation risks
The GDP in the UK expanded 0.1% on quarter in Q3 2024, the smallest growth rate in three quarters
BUY GBPINR NOV @ 106.6 SL 106.3 TGT 106.9-107.1.
JPYINR
Observations
JPYINR trading range for the day is 54.2-54.78.
JPY gains as investors reacted to comments from Bank of Japan Governor Kazuo Ueda.
The central bank chief reiterated that they will raise interest rates gradually should the economy develop as expected, but provided no guidance on the timing.
Business sentiment has improved, with corporate profits trending upward.
BUY JPYINR NOV @ 54.45 SL 54.25 TGT 54.65-54.85
