Buy JPYINR Oct @ 56 SL 55.8 TGT 56.2-56.4 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
USDINR
Observations
USDINR trading range for the day is 84.05-84.11.
Rupee fell pressured by equity outflows but managed to avert a sharp fall on account of sustained dollar sales.
Interest rate futures are currently pricing in 44 basis points worth of rate cuts across the Fed’s two remaining policy meetings in 2024.
India's retail inflation climbed to a nine-month high of 5.5% in September.
SELL USDINR OCT @ 84.12 SL 84.22 TGT 84.02-83.94.
EURINR
Observations
EURINR trading range for the day is 91.09-91.39.
Euro dropped as investors continued to assess the implications of the ECB’s latest policy decision.
The ECB cut rates by 25 basis points to 3.25% as expected, the third such reduction this year.
The current account surplus in the Euro Area widened to €35.2 billion in August 2024 from €26.8 billion a year earlier.
BUY EURINR OCT @ 91.2 SL 91 TGT 91.4-91.6.
GBPINR
Observations
GBPINR trading range for the day is 109.12-110.16.
GBP rose as UK monthly Retail Sales unexpectedly rose.
Retail sales in the UK unexpectedly increased 0.3% month-over-month in September 2024, following a 1% surge in August
Upbeat Retail Sales data could influence speculation for the BoE rate-cut path.
BUY GBPINR OCT @ 109.6 SL 109.3 TGT 109.9-110.2.
JPYINR
Observations
JPYINR trading range for the day is 55.82-56.52.
JPY dropped as slowing domestic inflation countered hawkish bets on Bank of Japan monetary policy.
The core consumer price index in Japan, rose 2.4% year-on-year in September 2024
The annual inflation rate in Japan fell to 2.5% in September 2024 from 3.0% in the prior month, marking the lowest reading since April
BUY JPYINR OCT @ 56 SL 55.8 TGT 56.2-56.4.
