BUY JPYINR SEP @ 58.5 SL 58.3 TGT 58.75-58.95 - Kedia Advisory
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USDINR
Observation
USDINR trading range for the day is 83.95-84.05.
Rupee ended little changed as dollar sales by foreign banks offset the drag from Asian peers.
The US jobs report showed that while the U.S. economy created fewer than expected jobs in August
India's forex reserves hit a fresh high of $683.99 bn: RBI data
SELL USDINR SEP @ 84.05 SL 84.15 TGT 83.95-83.78
EURINR
Observation
EURINR trading range for the day is 92.36-93.82.
Euro dropped as investor morale in the euro zone fell for a third consecutive month in September
The Sentix index for the euro zone fell to -15.4 points for August from -13.9 in August.
Investor morale fell further in Germany, to -34.7 in September from -31.1 in August.
SELL EURINR SEP @ 93 SL 93.2 TGT 92.8-92.6
GBPINR
Observation
GBPINR trading range for the day is 109.5-110.7.
GBP underperforms as market expectations for the Fed opting for a big interest-rate cut have diminished.
US employment growth came in lower than expected in August, while the jobless rate ticked down.
This week, investors will majorly focus on the UK Employment and the US inflation data
SELL GBPINR SEP @ 110 SL 110.3 TGT 109.7-109.5.
JPYINR
Observation
JPYINR trading range for the day is 58.27-58.99.
JPY dropped as the dollar gained some ground amid lingering uncertainty on the scale of an expected interest rate cut from the Federal Reserve later this month.
Japan’s economy grew an annualized 2.9% in the second quarter, lower than the advance figure of 3.1%
Japan’s current account surplus increased to JPY 3,193.0 billion in July 2024 from JPY 2,775.0 billion in the same month a year earlier.
BUY JPYINR SEP @ 58.5 SL 58.3 TGT 58.75-58.95.
