EURINR trading range for the day is 87.88-88.68 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.72-83.12. Rupee ended higher after JPMorgan announced it will include the country's government bonds in its emerging market index. India's economic outlook for the fiscal year 2023/24 remains "bright" after better September monsoon rains. India's retail inflation eased in August as food prices moderated, but held above the upper end of the RBI’s 2%-6% target for a second month.
EURINR
Observations
EURINR trading range for the day is 87.88-88.68. Euro dropped as Eurozone business activity continued to contract at a significant pace in September The consumer confidence indicator in the Euro Area dropped by 1.8 points from the previous month to -17.8 in September 2023 Germany Manufacturing PMI edged higher to 39.8 in September of 2023 from 39.1 in August.
GBPINR
Observations
GBPINR trading range for the day is 101.22-102.2. GBP dropped as investors digested weaker-than-expected PMI data The S&P Global/CIPS UK Manufacturing PMI increased to 44.2 in September 2023 from 43 in August Retail sales in the United Kingdom rose by 0.4% from the previous month in August 2023
JPYINR
Observations
JPYINR trading range for the day is 55.8-56.22. USDINR OCT-SEP 0.1075 BUY JPYINR SEP @ 55.8 SL 55.6 TGT 56.05-56.25. JPY dropped as the Bank of Japan maintained its ultra-easy monetary policy as the board aims to achieve a price stability target of 2% Japan service sector growth eases to 8-month low Japan composite PMI falls to 7-month low
