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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