Buy JPYINR NOV @ 55.2 SL 55 TGT 55.4-55.6. - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 84.12-84.18.
Rupee remained in range amid persistent equity outflows and anxiety over U.S. election results.
India's core sector output grew by 2% in September, up from the 1.6% recorded in August
India's external assets have increased by USD 108.4 billion from June 2023 to June 2024
SELL USDINR NOV @ 84.18 SL 84.28 TGT 84.08-84.
EURINR
Observations
EURINR trading range for the day is 91.39-91.61.
Euro steadied amid unexpectedly strong growth figures from the Eurozone and rising inflation in Germany
Eurozone inflation will durably reach the European Central Bank's 2% target in the course of 2025, ECB Lagarde
Retail sales in Germany increased 1.2% month-over-month in September 2024
BUY EURINR NOV @ 91.4 SL 91.2 TGT 91.6-91.8.
GBPINR
Observations
GBPINR trading range for the day is 108.65-109.29.
GBP remained in range as traders reduced expectations for Bank of England rate cuts and react to the Labour government's first budget.
Rachel Reeves introduced £40 billion in tax increases to boost public services and address a £22 billion fiscal hole inherited from the previous government.
The Office for Budget Responsibility (OBR) estimates the new measures will increase inflation by 0.4 percentage points at their peak effect in 2026.
BUY GBPINR NOV @ 109 SL 108.8 TGT 109.3-109.5.
JPYINR
Observations
JPYINR trading range for the day is 55.16-55.52.
JPY held steady after the Bank of Japan decided to keep its policy rate steady at 0.25%, as widely anticipated.
Industrial production in Japan increased by 1.4% month-over-month in September 2024
Retail sales in Japan increased by 0.5% year-on-year in September 2024, well below market expectations of 2.3%
BUY JPYINR NOV @ 55.2 SL 55 TGT 55.4-55.6.
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Buy EURINR Dec @ 88.3 SL 88.1 TGT 88.5-88.7. - Kedia advisory