Sell JPYINR OCT @ 55.7 SL 55.9 TGT 55.5-55.3 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.2-83.32.
Rupee settled flat as likely aggressive dollars sales from the central bank countered the impact of the global risk aversion
Fed's Powell: Strong economy may still require rate increases
The Indian economy is projected to grow by 6.3 per cent in FY24
SELL USDINR OCT @ 83.3 SL 83.45 TGT 83.1-82.95.
EURINR
Observations
EURINR trading range for the day is 87.65-88.05.
Euro dropped as surging bond yields and an escalating turmoil in the Middle East weighed on investor sentiment.
Euro Area posted a current account surplus of EUR 30.67 billion in August 2023
Euro area borrowing costs were close to their highest in around a decade
SELL EURINR OCT @ 88 SL 88.2 TGT 87.75-87.6
GBPINR
Observations
GBPINR trading range for the day is 100.51-101.37.
GBP fell as traders stayed risk-averse and continued to digest data showing UK inflation unexpectedly held at 6.7% in September.
British annual consumer price inflation stayed at an 18-month low of 6.7%
UK retail sales for September are due on Friday, while a preliminary read on October business activity lands next week
SELL GBPINR OCT @ 101.2 SL 101.5 TGT 100.85-100.65.
JPYINR
Observations
JPYINR trading range for the day is 55.6-55.78.
JPY falls due to USD strength, as US economy's resilience prolongs higher Fed rates
Japan unexpectedly logs trade surplus in September
Industrial production in Japan dropped by 0.7% mom in August 2023
SELL JPYINR OCT @ 55.7 SL 55.9 TGT 55.5-55.3.
