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USDINR

Observations

USDINR trading range for the day is 82.93-83.29.

Rupee rose bolstered by hopes the U.S. Federal Reserve would ease policy rates next year.

India’s trade deficit widened sharply to a record high of USD 31.5 billion in October 2023

India's retail inflation eases to 4.87% in October

BUY USDINR NOV @ 83.05 SL 82.92 TGT 83.2-83.3.

EURINR

Observations

EURINR trading range for the day is 90.05-90.59.

Euro rose as investors dumped the dollar after data showed that the US inflation rate slowed more than expected

Euro zone industrial production declined broadly in line with expectations in September

The GDP in the Euro Area shrank 0.1% on quarter in the three months to September 2023

SELL EURINR NOV @ 90.4 SL 90.6 TGT 90.15-90.

GBPINR

Observations

GBPINR trading range for the day is 103.32-103.96.

GBP rose after U.S. data showed the smallest annual increase in underlying consumer inflation in two years

Data showed British inflation cooled more than forecast in October

Money markets show traders believe there is a good chance the BoE could start cutting rates by May next year.

SELL GBPINR NOV @ 103.6 SL 103.85 TGT 103.3-103.1

JPYINR

Observations

JPYINR trading range for the day is 55.08-55.64. 

JPY gains after data showed the US inflation rate fell more than expected

The Japanese economy shrank 0.5% qoq in Q3 of 2023, worse than market forecasts of a 0.1% decline

Industrial production growth in Japan was revised higher to 0.5% month-over-month in September 2023

SELL JPYINR NOV @ 55.45 SL 55.65 TGT 55.25-55.1.