BUY JPYINR OCT @ 55.65 SL 55.45 TGT 55.9-56.1. - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.23-83.37.
Rupee dropped amid persistent concerns that U.S. interest rates will stay higher for longer.
The S&P Global India Manufacturing PMI slipped to 57.5 in September 2023 from 58.6.
India’s unemployment rate declines to 1-year low in September
SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12.
EURINR
Observations
EURINR trading range for the day is 87.12-87.66.
Euro dropped tracking global markets lower as a strong dollar and surging Treasury yields dented investor sentiment.
Eurozone Manufacturing PMI was confirmed at 43.4 in September 2023, remaining little changed from the previous month's 43.5.
Germany Manufacturing PMI was revised slightly lower to 39.6 in September 2023 from a preliminary of 39.8
SELL EURINR OCT @ 87.5 SL 87.7 TGT 87.25-87.1.
GBPINR
Observations
GBPINR trading range for the day is 100.21-101.05.
GBP dropped as investors assessed signs of cooling inflation in light of expectations
The most recent PMI survey indicated that manufacturing activity contracted sharply in September
The latest GDP report from last week suggested that Britain's economy grew by 0.2% in Q2
BUY GBPINR OCT @ 100.25 SL 100 TGT 100.6-100.8.
JPYINR
Observations
JPYINR trading range for the day is 55.74-56.04.
JPY dropped prompting Finance Minister Shunichi Suzuki to warn that he was watching currency moves “cautiously”
Japan Finmin Suzuki says authorities stand ready to respond in forex market
Japan monetary base spikes 5.6% on year in September
BUY JPYINR OCT @ 55.65 SL 55.45 TGT 55.9-56.1.
