JPYINR trading range for the day is 55.65-56.01- Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.32-83.42.
Rupee remained in range as India's economy has shown resilience in the face of the global downturn, owing to its dependence on local demand.
Investors will monitor the US S&P Global PMI ahead of India’s quarterly growth numbers in the week.
Indian Q2 GDP from the Central Statistical Office to grow faster than the 6.5% expected by the RBI.
SELL USDINR NOV @ 83.4 SL 83.55 TGT 83.22-83.1.
EURINR
Observations
EURINR trading range for the day is 90.72-91.14.
Euro steadied as investors continued to assess the economic and interest rate outlook globally.
The German economy contracted marginally by 0.1% in the third quarter of 2023, reversing the 0.1% growth seen in the previous three months
ECB Accounts: Uncertainty surrounding the economic outlook had increased
BUY EURINR NOV @ 90.85 SL 90.65 TGT 91.2-91.35.
GBPINR
Observations
GBPINR trading range for the day is 104.29-104.93.
GBP gains as upbeat PMI readings from the UK showed that the private sector moved back into the expansion territory
The GfK Consumer Confidence indicator in the United Kingdom rose to -24 in November 2023 from -30 in October
UK Manufacturing PMI rose to 46.7 in November, above expectations of 45.0.
BUY GBPINR NOV @ 104.6 SL 104.3 TGT 104.95-105.2.
JPYINR
Observations
JPYINR trading range for the day is 55.65-56.01.
JPY held steady after data showed that Japan’s headline inflation rate accelerated to 3.3% in October
The au Jibun Bank Japan Manufacturing PMI declined to 48.1 in November 2023 from 48.7 in the previous month
The index of leading economic indicators in Japan, was revised higher to 108.9 in September 2023 from a flash figure of 108.7.
BUY JPYINR NOV @ 55.7 SL 55.5 TGT 55.95-56.1.
