JPYINR trading range for the day is 56.36-56.76 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.25-83.47.
Rupee closed stronger aided by robust domestic economicdata and slight weakness in the greenback.
The S&P Global India Manufacturing PMI rose to 56.0 inNovember 2023 from October's 8-month low of 55.5
India's economy grew better than expected in the secondquarter of FY24
SELL USDINR NOV @ 83.4 SL 83.55 TGT 83.50-83.1.
EURINR
Observations
EURINR trading range for the day is 90.66-91.14.
Euro dropped after Eurozone inflation came in broadlybelow expectations
Euro zone factory downturn eased a touch in November –PMI
Euro zone economic sentiment inches up in November
SELL EURINR DEC @ 90.9 SL 91.15 TGT 90.6-90.4.
GBPINR
Observations
GBPINR trading range for the day is 105.08-105.78.
GBP steadied amid sluggish US Treasury yields, and hawkishBoE commentary continue to underpin the sentiment.
The S&P Global/CIPS UK Manufacturing PMI was revisedupward to 47.2 in November 2023
Governor Andrew Bailey stated on that the central bankwould take necessary measures to bring inflation down its 2% target.
SELL GBPINR DEC @ 105.7 SL 106 TGT 105.4-105.2
JPYINR
Observations
JPYINR trading range for the day is 56.36-56.76.
JPY dropped in the wake of the recent less-hawkish remarksby Bank of Japan (BoJ) officials.
Japan factory activity shrinks the most in 9 months
Japan’s unemployment rate unexpectedly was at 2.5% inOctober 2023, compared with market forecasts and aSeptember reading of 2.6%
BUY JPYINR DEC @ 56.5 SL 56.3 TGT 56.7-56.85
