Sell USDINR DEC @ 84.9 SL 85 TGT 84.8-84.7. - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 84.76-84.9.
Rupee ended little changed with market players speculating whether the central bank will initiate an interest rate easing cycle.
Moody's revises global banking outlook to 'stable' from 'negative'
Slowdown in India's growth in the July-September quarter
SELL USDINR DEC @ 84.9 SL 85 TGT 84.8-84.7.
EURINR
Observations
EURINR trading range for the day is 89.14-89.66.
Euro recovers as traders seemed to dismiss concerns over the political situation in France.
Factory orders in Germany declined by 1.5% mom in October 2024, compared to market forecasts of a 2.0% fall
Business activity across the euro zone fell sharply last month as the bloc's dominant services sector joined the manufacturing sector in contracting
BUY EURINR DEC @ 89.3 SL 89.1 TGT 89.5-89.7.
GBPINR
Observations
GBPINR trading range for the day is 107.62-108.28.
GBP gains as BoE Bailey sticks to gradual easing approach
Financial market participants expect the BoE to keep interest rates steady in the policy meeting on December 19.
Fed Powell expects that the central bank has the comfort of becoming “cautious” on interest-rate cuts.
SELL GBPINR DEC @ 108.2 SL 108.5 TGT 107.9-107.7.
JPYINR
Observations
JPYINR trading range for the day is 56.67-57.57.
JPY strengthened despite dovish remarks from Bank of Japan board member Toyoaki Nakamura.
Nakamura expressed concerns about the sustainability of wage growth and noted signs of weakness in the economy.
BOJ Governor Kazuo Ueda signaled over the weekend that further rate hikes are "nearing," as economic data continues to meet expectations.
SELL JPYINR DEC @ 57.25 SL 57.45 TGT 57-56.8.
