Buy EURINR Sep @ 93.1 SL 92.9 TGT 93.3-93.5 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.5-83.8.
Rupee weakened as outflows related to the rebalancing of some global equity indexes, coupled with dollar demand
S&P retains India's growth forecast at 6.8%, expects RBI to cut rates in Oct
Business activity at 9-month low in Sept as demand eases
SELL USDINR SEP @ 83.7 SL 83.8 TGT 83.6-83.5.
EURINR
Observations
EURINR trading range for the day is 92.54-93.7.
Euro gains after China, unveiled a comprehensive package of economic stimulus measures to bolster its economy.
Eurozone consumer confidence rose by 0.5 points in September from the August number
The Ifo Business Climate indicator for Germany dropped to 85.4 in September 2024 from 86.6 in August
BUY EURINR SEP @ 93.1 SL 92.9 TGT 93.3-93.5.
GBPINR
Observations
GBPINR trading range for the day is 111.19-112.27.
GBP rose after China announced a fresh set of monetary stimulus
Bank of England's Bailey says interest rates are gradually heading downwards
The Confederation of British Industry's (CBI) monthly net balance of new orders fell to -35 in September 2024, the lowest in ten months
BUY GBPINR SEP @ 111.8 SL 111.5 TGT 112.1-122.4.
JPYINR
Observations
JPYINR trading range for the day is 57.54-58.42.
JPY dropped after BOJ Governor said they have time to assess market and economic developments before adjusting monetary policy
The au Jibun Bank Japan Services PMI rose to 53.9 in September from a final 53.7 in the prior month
The au Jibun Bank Japan Manufacturing PMI declined to 49.6 in September from a final 49.8 in the previous month
BUY JPYINR SEP @ 58 SL 57.8 TGT 58.2-58.4.
