Sell JPYINR OCT @ 58.6 SL 58.8 TGT 58.3-58. - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.88-83.96.
Rupee closed little changed as exporters' dollar sales helped offset the decline in Asian currencies.
India Manufacturing PMI fell to 56.5 in September 2024, compared to the flash estimate of 56.7.
Fed’s Powell prompted traders to temper expectations of a 50-basis-point rate cut at the central bank's November meeting.
BUY USDINR OCT @ 83.9 SL 83.8 TGT 84-84.1.
EURINR
Observations
EURINR trading range for the day is 92.81-93.85.
Euro slipped after weaker-than-expected inflation data fueled speculation of further ECB rate cuts.
Annual inflation in the Eurozone dropped to 1.8% in September, its lowest since April 2021.
Germany Manufacturing PMI fell to 40.6 in September of 2024 from 42.4 in the previous month, the lowest in one yea
SELL EURINR OCT @ 93.2 SL 93.4 TGT 93-92.8.
GBPINR
Observations
GBPINR trading range for the day is 111.34-112.54.
GBP dropped as survey data confirmed a slowdown in factory activity in September
The S&P Global UK Manufacturing PMI fell to 51.5 in September 2024 from 52.5 in August
The dollar was firmer across the board, after Federal Reserve Chair Jerome Powell pushed back against bets on more supersized interest rate cuts.
SELL GBPINR OCT @ 111.9 SL 112.2 TGT 111.6-111.4.
JPYINR
Observations
JPYINR trading range for the day is 58.17-58.89.
JPY weakened as Fed Chair Powell pushed back against bets on more supersized US rate cuts.
The BOJ’s index for big manufacturers' sentiment stood at 13 in Q3 of 2024, holding steady for the second straight period
Japan’s unemployment rate fell to 2.5% in August from 2.7% in July, coming in better than market expectations of 2.6%.
SELL JPYINR OCT @ 58.6 SL 58.8 TGT 58.3-58.
