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USDINR

Observations

USDINR trading range for the day is 83.07-83.25.

Rupee ended lower tracking a decline in Asian currencies, while forward premiums fell.

S&P Global PMIs for the US beat expectations, in another sign the US economy remained robust in October.

However, likely intervention by RBI continued to help prevent a breach of the rupee's record low.

SELL USDINR OCT @ 83.2 SL 83.35 TGT 83-82.85

EURINR 

Observations

EURINR trading range for the day is 87.79-88.53.

Euro struggled as investors prepared for an upcoming European Central Bank meeting later in the week

Policymakers will likely leave interest rates unchanged, following 10 consecutive hikes that brought borrowing costs to multi-year highs

ECB chief economist Philip Lane stated that there is a considerable way to go before contemplating rate cuts. 

SELL EURINR OCT @ 88.15 SL 88.35 TGT 87.9-87.75. 

GBPINR

Observations

GBPINR trading range for the day is 100.84-101.5.

GBP weakened amid worries over rising bond yields and the escalating Israel-Hamas conflict.

Moody's credit rating agency has dropped its negative outlook on the UK

British consumer price inflation was at a 1-1/2-year low of 6.7% in September

SELL GBPINR OCT @ 101.25 SL 101.5 TGT 101-100.85.

JPYINR

Observations

JPYINR trading range for the day is 55.48-55.64.

JPY remained in range as concerns over an escalating conflict in the Middle East dampened market sentiment.

Japan's Kishida vows measures to cushion blow from rising inflation

The core consumer price index in Japan, which excludes fresh food but includes fuel costs, rose 2.8% in September 2023 from a year ago

SELL JPYINR OCT @ 55.7 SL 55.9 TGT 55.5-55.3.