Sell JPYINR OCT @ 55.95 SL 56.15 TGT 55.75-55.6 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.21-83.31.
Rupee ended little changed as traders continued to look for triggers to break out of the narrow range
US retail sales rose 0.7% from a month earlier in September, following an upwardly revised 0.8% increase in August
Capex to rise 29% for 13 states, fiscal deficit to widen in FY24: Icra
SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12.
EURINR
Observations
EURINR trading range for the day is 87.67-88.23.
Euro remained in range as investors keeping a close eye on developments in the Middle East.
The ZEW Indicator of Economic Sentiment for Germany surged by 10.3 points from the previous month to reach -1.1 in October 2023
The ZEW Indicator of Economic Sentiment for the Euro Area rebounded to 2.3 in October 2023 from -8.9 in the previous month
BUY EURINR OCT @ 87.8 SL 87.6 TGT 88.05-88.25
GBPINR
Observations
GBPINR trading range for the day is 100.96-101.82.
GBP dropped after data indicated that regular pay growth in the UK moderated slightly to 7.8%
Average weekly earnings, in the UK increased 8.1% year-on-year to GBP 661/week in the three months to August of 2023
Bank of England Governor Andrew Bailey said he was puzzled by the persistent strength of pay growth in the UK
BUY GBPINR OCT @ 101.2 SL 100.9 TGT 101.55-101.75.
JPYINR
Observations
JPYINR trading range for the day is 55.54-56.3
JPY traded in range keeping traders on edge for any signs of intervention by the Japanese authorities.
Producer prices in Japan rose by 2.0% yoy in September 2023
The value of loans in Japan increased 2.9% year-on-year in September 2023
SELL JPYINR OCT @ 55.95 SL 56.15 TGT 55.75-55.6.
