BUY GBPINR NOV @ 103.4 SL 103.15 TGT 103.7-103.9 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.2-83.32.
Rupee ended slightly weaker as buoyant U.S. dollar demand from local companies
India's annual retail inflation eased to a four-month low of 4.87% in October but remained above the RBI's 4% target
Investors await the minutes of the Fed's meeting, and could offer cues on the central bank's thinking on future policy rates.
SELL USDINR NOV @ 83.4 SL 83.55 TGT 83.22-83.1
EURINR
Observations
EURINR trading range for the day is 90.04-90.78.
Euro steadied as investors dumped the dollar after US inflation rate slowed more than expected in October.
ECB's Lagarde says Europe needs single market watchdog
Euro Area recorded a current account surplus of EUR 40.78 billion in September 2023
BUY EURINR NOV @ 90.4 SL 90.2 TGT 90.65-90.85.
GBPINR
Observations
GBPINR trading range for the day is 102.88-103.84.
GBP gains amid expectations that the US Federal Reserve won't implement rate hikes anytime
Retail sales in the United Kingdom fell by 0.3% month-over-month in October 2023
Bank of England is likely to need to keep interest rates high for an extended period
BUY GBPINR NOV @ 103.4 SL 103.15 TGT 103.7-103.9.
JPYINR
Observations
JPYINR trading range for the day is 55.18-56.24.
JPY gains as weaker-than-expected US economic data, led by a slowdown in inflation, bolstered bets that Fed is done with its monetary tightening cycle.
Japan’s economy contracted faster than expected in the third quarter amid slowing global demand and rising domestic inflation.
The Bank of Japan reaffirmed its commitment to accommodative monetary policies and made only minor adjustments to yield curve controls.
SELL JPYINR NOV @ 55.9 SL 56.1 TGT 55.7-55.55.
