Powered by: Motilal Oswal
04-12-2024 10:18 AM | Source: Kedia Advisory
Sell GBPINR Dec @ 107.7 SL 108 TGT 107.4-107.2. - Kedia Advisory
News By Tags | #CurrencyTips #KediaAdvisory

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel

USDINR

Observations

USDINR trading range for the day is 84.67-84.97.

Rupee recovered slightly from its record low as dollar demand ebbed towards the close of the session

Dollar-rupee forward premiums slumped on the back of the central bank's swaps with the 1-year implied yield dropping below 2%

India's September quarter GDP growth fell to a multi-quarter low, which likely means that the RBI could lower policy rates sooner than expected

SELL USDINR DEC @ 84.85 SL 84.95 TGT 84.75-84.65.

 

EURINR

Observations

EURINR trading range for the day is 88.89-89.69.

Euro declines amid escalating French government crisis

Growing concerns about a possible government collapse in France undermine the Euro.

US Manufacturing PMI came in stronger than expected in November.

SELL EURINR DEC @ 89.4 SL 89.6 TGT 89.2-89.

 

GBPINR

Observations

GBPINR trading range for the day is 106.84-108.02.

GBP dropped UK retail sales fall unexpectedly in November

Expectations that the Fed will keep rates higher for a longer period underpin the buck.

Reduced bets for another BoE rate cut in December help limit the downside for the pair.

SELL GBPINR DEC @ 107.7 SL 108 TGT 107.4-107.2.

 

JPYINR

Observations

JPYINR trading range for the day is 56.75-57.15..

JPY gains amid expectations that the Bank of Japan could soon raise interest rates again.

BOJ Governor Kazuo Ueda indicated that further rate hikes are "nearing" as economic data is aligning with expectations.

Geopolitical risks, Trump’s tariff threats and suppressed US bond yields favor JPY bulls.

SELL JPYINR DEC @ 57 SL 57.2 TGT 56.8-56.6.

To Read Complete Report & Disclaimer     Click Here

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer