Buy USDINR Aug @ 83.8 SL 83.7 TGT 83.9-84 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
USDINR
Observations
USDINR trading range for the day is 83.74-83.88.
Rupee steadied pressured by month-end corporate dollar demand
Although likely intervention from the Reserve Bank of India helped avert further losses.
Dollar-rupee forward premiums jumped, with the 1-year implied yield up 5 basis points (bps) at 1.83%
BUY USDINR AUG @ 83.8 SL 83.7 TGT 83.9-84.
EURINR
Observations
EURINR trading range for the day is 90.58-91.24.
Euro dropped after a survey showed German business activity unexpectedly contracted in July
Euro zone business growth stalls in July, PMIs show
Euro zone lending rebounds as rates fall from highs
SELL EURINR AUG @ 90.9 SL 91.1 TGT 90.7-90.5.
GBPINR
Observations
GBPINR trading range for the day is 107.09-108.09.
GBP fell as investors increased their wagers on Bank of England rate cuts in 2024.
Sentiment in the UK manufacturing sector fell to -9 in July 2024, after rising to 9 in April
The Confederation of British Industry survey's total order book balance in UK declined to -32 in July 2024 from -18 in June
SELL GBPINR AUG @ 107.8 SL 108.1 TGT 107.5-107.3.
JPYINR
Observations
JPYINR trading range for the day is 54.4-54.98.
JPY steadied amid growing speculation that the Bank of Japan will raise interest rates.
Markets are betting that the central bank will lift rates by 10 basis points to 0.1%, and is widely expected to outline its quantitative tightening plans.
The index of coincident economic indicators in Japan, revised upward to 117.1 in May 2024 from a flash figure of 116.5.
SELL JPYINR AUG @ 54.8 SL 55 TGT 54.6-54.4.
