Sell GBPINR OCT @ 101.95 SL 102.15 TGT 101.65-101.5. - Kedia Advisory
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USDINR
USDINR trading range for the day is 83.04-83.36.
Rupee depreciated pressured by elevated U.S. Treasury yields and higher crude oil prices.
Ratings agency S&P Global Ratings, retained India’s FY24 growth forecast at 6%
Rupee's gains that followed the announcement of India's inclusion in the JPMorgan emerging market bond index have been erased.
SELL USDINR OCT @ 83.3 SL 83.45 TGT 83.1-83.
EURINR
EURINR trading range for the day is 88.43-88.93.
Euro steadied as investors continued to digest the flurry of central bank activity from the previous week.
Policymakers have reinforced their commitment to maintaining higher interest rates for an extended period
Spanish industrial prices fell a record 10% in the 12 months through August
SELL EURINR OCT @ 88.7 SL 88.9 TGT 88.45-88.25.
GBPINR
GBPINR trading range for the day is 101.6-102.18.
GBP remained in range on the back of the Bank of England's pause on its rate-hike cycle
Data showed Britain's high inflation rate unexpectedly slowed.
The S&P Global/CIPS UK Services PMI fell to 47.2 in September of 2023 from 49.5 in the previous month
SELL GBPINR OCT @ 101.95 SL 102.15 TGT 101.65-101.5.
JPYINR
JPYINR trading range for the day is 56.16-56.72.
JPY steadied on intervention watch after BOJ and Governor Ueda quashed hopes of any imminent move away from its stark ultra-loose monetary policy.
The BOJ maintained ultra-low interest rates and stuck to its dovish stance
Governor Ueda stressed the need to spend more time assessing data before raising interest rates.
SELL JPYINR OCT @ 56.5 SL 56.7 TGT 56.3-56.1.
