SELL JPYINR NOV @ 56.45 SL 56.65 TGT 56.2-56.05 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.19-83.49.
Rupee trades weaker on the rebound in oil prices, USD demand.
Global uncertainties will have a limited impact on the Indian economy.
Market players will monitor the FOMC Meeting Minutes on Tuesday for fresh impetus.
SELL USDINR NOV @ 83.4 SL 83.55 TGT 83.22-83.1.
EURINR
Observations
EURINR trading range for the day is 90.73-91.33.
Euro gains driven by the anticipation of potential interest rate cuts by global central banks next year
Moody's upgrade of Italy's sovereign debt outlook further contributed to market optimism.
Euro zone current account surplus widens in Sept
BUY EURINR NOV @ 91 SL 90.8 TGT 91.25-91.45.
GBPINR
Observations
GBPINR trading range for the day is 103.58-104.42.
GBP rose amid expectations that the US Federal Reserve won't implement rate hikes anytime soon.
With inflation halved we can now look forward to the future economy we want to build, PM Sunak.
Recent reports unveiled a 0.3% drop in Britain's retail trade last month, falling short of the market consensus of a 0.3% growth.
BUY GBPINR NOV @ 103.8 SL 103.5 TGT 104.15-104.35.
JPYINR
Observations
JPYINR trading range for the day is 55.77-56.65.
JPY rose as easing US inflation raised hopes that the Federal Reserve has reached the end of its tightening cycle
Japan’s economy contracted faster than expected in the third quarter amid slowing global demand and rising domestic inflation.
BOJ reaffirmed its commitment to accommodative monetary policies and made only minor adjustments to yield curve controls.
SELL JPYINR NOV @ 56.45 SL 56.65 TGT 56.2-56.05.
