Sell JPYINR Oct @ 55.8 SL 56 TGT 55.6-55.4. - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 84.05-84.13.
Rupee slipped amid likely outflows from local equities while intervention by RBI helped curb sharp declines.
India cenbank deputy says climate, tech risks a threat to inflation targeting
Aggregate demand in India is likely to shrug off the temporary slowdown in momentum seen in the second quarter
SELL USDINR OCT @ 84.12 SL 84.22 TGT 84.02-83.94
EURINR
Observations
EURINR trading range for the day is 90.85-91.37.
Euro dropped as traders are anticipating further monetary policy easing from the ECB
ECB’s Lagarde's remarks were interpreted as a downgrade of the economic outlook.
Euro zone adjusted current account surplus shrinks in Aug
SELL EURINR OCT @ 91.1 SL 91.3 TGT 90.9-90.7.
GBPINR
Observations
GBPINR trading range for the day is 108.9-109.52.
GBP fell as investors focused on the relative strength of the U.S. economy, pushing up the dollar.
Public sector net borrowing, in the UK rose to £16.6 billion in September 2024.
British inflation fell more than expected in September to 1.7%, below the Bank of England's 2% target.
BUY GBPINR OCT @ 109 SL 108.8 TGT 109.25-109.45.
JPYINR
Observations
JPYINR trading range for the day is 55.59-56.07.
JPY depreciated as markets fear could prompt another currency intervention from Japanese authorities.
Data showed that Japan’s headline and core inflation rates slowed to a five-month low of 2.5% and 2.4%, respectively, in September.
Japan’s Mimura reiterate government warnings that they are closely watching currency moves and that excess volatility is undesirable.
SELL JPYINR OCT @ 55.8 SL 56 TGT 55.6-55.4.
