Sell GBPINR DEC @ 105.1 SL 105.4 TGT 104.75-104.5 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.38-83.46.
Rupee settled little changed supported by likely U.S. dollar sales by the RBI
Rupee forward premiums declined, with the 1-year implied yield falling to 1.60%
RBI upgraded the forecast for the current fiscal year 2023-2024 to 7% from 6.5% previously.
SELL USDINR DEC @ 83.5 SL 83.65 TGT 83.35-83.2.
EURINR
Observations
EURINR trading range for the day is 89.68-90.08.
Euro dropped on an extended US Dollar rally ahead of this week's key macroeconomic data releases and central bank meetings.
German inflation rate confirmed at nearly 2-½ year low.
Eurozone retail sales rose very slightly in October, after three consecutive months of decline.
SELL EURINR DEC @ 90.1 SL 90.3 TGT 89.9-89.7
GBPINR
Observations
GBPINR trading range for the day is 104.43-105.13.
GBP dropped as investors eagerly anticipating the BOE’s upcoming policy meeting.
The Bank of England looks set to stick to its tough line against talk of interest rate cuts in Britain
Britain's inflation rate has dropped from a 41-year high of 11.1% just over a year ago.
SELL GBPINR DEC @ 105.1 SL 105.4 TGT 104.75-104.5.
JPYINR
Observations
JPYINR trading range for the day is 56.83-57.79.
JPY dropped as dollar strengthen after stronger-than-expected US jobs data.
Japan’s machine tool orders declined 13.6% year-on-year to JPY 115,884 million in November 2023
The business survey index of large manufacturing firms in Japan rose to 5.7% in the fourth quarter of 2023 from 5.4% in the third quarter
BUY JPYINR DEC @ 57.1 SL 56.9 TGT 57.3-57.45
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