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 83.35-83.47.
Rupee remained in range after the Reserve Bank of India held its benchmark policy repo at 6.5 percent
RBI Governor Shaktikanta Das warned about the possibility of accelerating inflation in November and December due to food price pressures.
The central bank revised its economic growth forecast for the fiscal year 2024 to 7% from 6.5%.
SELL USDINR DEC @ 83.6 SL 83.75 TGT 83.45-83.3.
EURINR
Observations
EURINR trading range for the day is 89.85-90.17.
Euro steadied after dovish remarks from ECB's Isabel Schnabel.
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 @ 90.2 SL 90.4 TGT 90-89.8.
GBPINR
Observations
GBPINR trading range for the day is 104.6-105.22.
GBP steadied as investors digested a stronger-than-expected US jobs data while 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 57.61-58.37.
JPY rallied after BoJ Kazuo Ueda talked about options while moving away from negative interest rates.
The Japanese economy contracted 2.9% on an annualized basis during the third quarter of 2023
Japan’s current account surplus stood at JPY 2,582.8 billion in October 2023, remaining positive for the ninth consecutive month
BUY JPYINR DEC @ 57.7 SL 57.5 TGT 57.95-58.2.
