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USDINR

Observations

USDINR trading range for the day is 84.4-84.56.

Rupee declined to an all-time low affected by continuous foreign fund withdrawals and robust dollar requirements from investors.

Indian economy 'sailing smoothly' amid global challenges, says RBI Governor Shaktikanta Das

India’s wholesale prices increased by 2.36% yoy in October 2024, after a 1.84% gain in September

SELL USDINR NOV @ 84.52 SL 84.62 TGT 84.42-84.34.

EURINR

Observations

EURINR trading range for the day is 88.29-89.67.

Euro dropped as investors remained cautious, watching for fresh economic and monetary cues both within Europe and globally

Investors are worried about potential trade tariffs Trump suggested, which could hurt European exports, particularly targeting cars.

ZEW Indicator of Economic Sentiment for Germany fell much more than expected to 7.4 in November from 13.1 in October.

BUY EURINR NOV @ 88.8 SL 88.6 TGT 89-89.2.

GBPINR

Observations

GBPINR trading range for the day is 106.43-107.65.

GBP dropped following data that showed inflation was easing in the UK.

Data showed regular pay for British workers grew at its slowest pace in two years

The BoE said the Labour government's first budget would lead to higher inflation and economic growth.

BUY GBPINR NOV @ 106.6 SL 106.3 TGT 106.9-107.1.

JPYINR

Observations

JPYINR trading range for the day is 54.02-54.4.

JPY depreciated as domestic policy uncertainties coincided with hawkish expectations in US under the Trump administration.

Japan's producer inflation rose at its fastest pace in over a year in October

BOJ maintained its forecast that it could raise its benchmark policy rate to 1% by the second half of fiscal 2025.

BUY JPYINR NOV @ 54.2 SL 54 TGT 54.4-54.6.