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13-11-2023 09:09 AM | Source: Kedia Advisory
JPYINR trading range for the day is 55.09-55.47 - Kedia Advisory
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USDINR

Observations

USDINR trading range for the day is 83.08-83.7.

Rupee dropped with Fed Powell saying the central bank is “not confident” that it has done enough to bring down inflation

Industrial production in India rose by 5.8% year-on-year in September 2023, marking a slowdown from the 14-month high

Strong domestic demand to sustain growth in near term: Moody’s Investor Service

BUY USDINR NOV @ 83.3 SL 83.18 TGT 83.45-83.55.

 

EURINR

Observations

EURINR trading range for the day is 88.78-89.34.

Euro pared gains as investors digested a series of remarks by central bank officials

ECB Lagarde indicated that maintaining the deposit rate at 4% should be sufficient to control inflation

Retail sales in the Euro Area declined by 0.3% in September, marking the third consecutive month of decrease

BUY EURINR NOV @ 88.95 SL 88.75 TGT 89.15-89.25.

 

GBPINR

Observations

GBPINR trading range for the day is 101.52-102.36.

GBP dropped as markets digested data showing Britain's economy failed to grow in the third quarter

The British economy expanded 0.6% year-on-year in the third quarter of 2023

Manufacturing production in the United Kingdom increased 0.1% month-over-month in September 2023

BUY GBPINR NOV @ 101.7 SL 101.45 TGT 102-102.2

 

JPYINR

Observations

JPYINR trading range for the day is 55.09-55.47.

JPY weakened as hawkish messaging from Fed contrasted sharply with BOJ’s commitment to ultra-easy monetary policy

BOJ Governor Kazuo Ueda said the central bank should tread carefully as uncertainties abound.

The gauge for Japan's service sector sentiment unexpectedly dropped to 49.5 in October 2023 from 49.9 in the previous month

SELL JPYINR NOV @ 55.35 SL 55.55 TGT 55.05-54.95

 

 

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