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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.