IGI Logo

USDINR

Observations

USDINR trading range for the day is 83.97-84.01.

Rupee remained near its record low as investors continued to assess the RBI’s stance on monetary policy.

Indian central bank is expected to have refrained from strengthening the rupee to prevent the local currency from gaining.

The annual consumer inflation rate in India fell sharply to 3.54% in July of 2024 from 5.08% in the earlier month

SELL USDINR AUG @ 84.05 SL 84.15 TGT 83.9-83.8.

EURINR

Observations

EURINR trading range for the day is 91.65-92.01.

Euro remained in range amid market speculation for ECB rate cuts amid an absence of top-tier Eurozone economic data.

The ZEW Indicator of Economic Sentiment for Germany plunged to 19.2 in August 2024 from 41.8 in July

The ZEW Indicator of Economic Sentiment for the Euro Area continued to plummet in August 2024

BUY EURINR AUG @ 91.75 SL 91.55 TGT 92-92.2.

GBPINR

Observations

GBPINR trading range for the day is 106.89-107.81.

GBP gains after data showed Britain's unemployment rate unexpectedly fell in June

UK’s unemployment rate fell to 4.2% from April to June 2024, down from a two-and-a-half-year high.

The number of people employed in the United Kingdom increased by 97 thousand in the three months to June 2024

BUY GBPINR AUG @ 107.3 SL 107 TGT 107.6-107.9.

JPYINR

Observations

JPYINR trading range for the day is 56.76-57.26.

JPY slipped as the unwinding of yen carry trades lost momentum

BOJ Deputy Governor Shinichi Uchida said the central bank won’t raise rates when the market is unstable

Japan's wholesale inflation quickens to fastest in nearly a year

BUY JPYINR AUG @ 56.9 SL 56.7 TGT 57.15-57.35.