Powered by: Motilal Oswal
09-11-2023 10:17 AM | Source: Kedia Advisory
GBPINR trading range for the day is 101.82-102.52 - Kedia Advisory
News By Tags | #CurrencyTips #KediaAdvisory

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

USDINR

Observations

USDINR trading range for the day is 83.23-83.35.

Rupee closed little changed wedged between buoyant dollar demand and a retreat in crude oil prices

Fed Chair Powell's much awaited speech did not provide any clues about the central bank's interest-rate path.

Fitch revises India’s potential growth upward to 6.2%

SELL USDINR NOV @ 83.4 SL 83.55 TGT 83.22-83.1.

 

EURINR

Observations

EURINR trading range for the day is 88.68-89.34.

Euro retreated as investors digested a series of remarks by central bank officials.

German consumer price inflation rate was confirmed at 3.8% year-on-year in October 2023, easing sharply from the previous month's 4.5%.

ECB’s Guindos, pointed out that the euro zone's economy is likely to see a slight contraction or, at best, stagnation in the fourth quarte

BUY EURINR NOV @ 88.8 SL 88.6 TGT 89.05-89.25.

 

GBPINR

Observations

GBPINR trading range for the day is 101.82-102.52.

GBP dropped as markets continued to assess the policy outlook for the

BoE BOE’s Pill expressed that rate cuts starting from the middle of next year were not an unreasonable prospect.

Investors are factoring in a likelihood of over 50% that rates will remain unchanged until June 2024

GBPINR trading range for the day is 101.82-102.52.

 

JPYINR

Observations

JPYINR trading range for the day is 55.37-55.69.

JPY weakened weighed down by a rebound in the dollar and Treasury yields

BOJ’s Ueda said volatile currency moves were among the side effects the central bank was scrutinising in maintaining its bond yield control policy

The Reuters Tankan sentiment index for manufacturers in Japan rose to +6 in November 2023 from +4 in October

SELL JPYINR NOV @ 55.5 SL 55.7 TGT 55.25-55.05.

To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer