Buy USDINR SEP @ 83 SL 82.88 TGT 83.15-83.28. - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.92-83.26.
Rupee ended flat amid exporter dollar sales and fears of potential central bank intervention.
ADB lowers India’s growth forecast to 6.3 percent for FY24, raises inflation forecast
The median dot plot in the Fed's summary of economic projections showed 50 bps of rate cuts in 2024
BUY USDINR SEP @ 83 SL 82.88 TGT 83.15-83.28.
EURINR
Observations
EURINR trading range for the day is 88.16-88.88.
Euro dropped after the Fed kept the target range for the fund's rate at 5.25%-5.5%
Risks to inflation in the euro zone are now balanced, ECB's De Cos says
Euro zone consumer inflation in August was slightly lower than initially estimated
BUY EURINR SEP @ 88.25 SL 88.05 TGT 88.5-88.65.
GBPINR
Observations
GBPINR trading range for the day is 101.09-103.03.
GBP fell after Bank of England held its policy interest rate at 5.25% during its September meeting
Public sector net borrowing excluding public sector banks in the UK was £11.6 billion
Data showed British inflation slowed more than expected in August, coming in at 6.7% year-on-year, down from 6.8% in July
BUY GBPINR SEP @ 101.8 SL 101.5 TGT 102.1-102.35
JPYINR
Observations
JPYINR trading range for the day is 55.99-56.41.
Euro dropped after the Fed kept the target range for the fund's rate at 5.25%-5.5%
Risks to inflation in the euro zone are now balanced, ECB's De Cos says
Euro zone consumer inflation in August was slightly lower than initially estimated
BUY JPYINR SEP @ 56.15 SL 55.95 TGT 56.35-56.55
