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USDINR

Observations

USDINR trading range for the day is 83.21-83.33.

Rupee closed unchanged as likely U.S. dollar sales by RBI kept the local unit off its record low.

Capex to rise 29% for 13 states, fiscal deficit to widen in FY24: Icra

GDP growth estimated at 6.3 per cent for 2023-24: FICCI Economic Outlook Survey

SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12.

EURINR

Observations

EURINR trading range for the day is 87.75-88.35.

Euro steadied as investors balanced concerns about the escalating conflict in the Middle East

Eurozone labour market shows no sign of weakening: Lagarde

Euro zone financial stability fragile as growth stagnates – ECB

SELL EURINR OCT @ 88 SL 88.2 TGT 87.75-87.6.

GBPINR

Observations

GBPINR trading range for the day is 101.15-101.89.

GBP gained after following UK data indicating that inflation remained high in September

Data showed UK inflation held at 6.7% in September, but above expectations for a retreat to 6.6%.

Labor data revealed that overall pay growth in the UK decelerated from 8.5% to 8.1%

SELL GBPINR OCT @ 101.5 SL 101.78 TGT 101.2-101

JPYINR

Observations

JPYINR trading range for the day is 55.67-55.87

JPY dropped on immense pressure from the dollar as strong US economic data reinforced the view that the Federal Reserve will keep interest rates higher.

Industrial production in Japan dropped by 0.7% mom in August 2023.

Investors look ahead to Federal Reserve Chair Jerome Powell’s speech to guide the monetary policy outlook

SELL JPYINR OCT @ 55.8 SL 56 TGT 55.6-55.45.