Sell EURINR SEP @ 89 SL 89.2 TGT 88.75-88.55 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.92-83.16.
Rupee settled flat as the impact of equity inflows offset by importer hedging and oil companies' dollar demand.
India's August wholesale price index falls 0.52% y/y
India's growth pace is likely to moderate in the third quarter
BUY USDINR SEP @ 83 SL 82.85 TGT 83.18-83.3.
EURINR
EURINR trading range for the day is 89.06-89.38.
Euro remained in range after U.S. inflation data failed to alter views for a Federal Reserve pause next week.
The ECB raised interest rates for a 10th consecutive time on September 14th, but signaled that it is likely done tightening policy
Euro zone industrial production dropped much more than expected in July
SELL EURINR SEP @ 89 SL 89.2 TGT 88.75-88.55.
GBPINR
Observations
GBPINR trading range for the day is 103.38-103.9.
GBP settled flat as markets continued to assess labor and GDP data for hints on the BoE’s outlook.
UK house price balance hits fresh 14-year low
British economic output had contracted more than expected in July.
SELL GBPINR SEP @ 103.6 SL 103.8 TGT 103.3-103.1.
JPYINR
Observations
JPYINR trading range for the day is 56.43-56.65.
JPY steadied as investors reassessed the outlook for Bank of Japan monetary policy
Governor Ueda said that the central bank could end its negative interest rate policy when the 2% inflation target is sustainability achieved.
Japan machinery orders fall 1.1% in July
SELL JPYINR SEP @ 56.7 SL 56.9 TGT 56.45-56.3.
