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17-10-2023 10:55 AM | Source: Kedia Advisory
SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12 - Kedia Advisory
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USDINR

Observations

USDINR trading range for the day is 83.24-83.34.

Rupee remained in range amid rising concerns about oil prices and as investors wait to see if the ongoing conflict in the Middle East draws in other countries.

RBI has been intervening routinely to prevent the rupee from sliding to its lifetime low and likely sold U.S. dollars earlier in the session.

India's wholesale prices unexpectedly dropped by 0.26 percent year-on-year in September 2023



EURINR

Observations

USDINR trading range for the day is 83.24-83.34.

Rupee remained in range amid rising concerns about oil prices and as investors wait to see if the ongoing conflict in the Middle East draws in other countries.

RBI has been intervening routinely to prevent the rupee from sliding to its lifetime low and likely sold U.S. dollars earlier in the session.

India's wholesale prices unexpectedly dropped by 0.26 percent year-on-year in September 2023

SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12.




GBPINR

Observations

GBPINR trading range for the day is 101.03-101.55.

GBP dropped as investors turned to the US dollar following the release of stronger-than-expected US inflation data.

The latest GDP report from the UK showed the economy grew by 0.2% in August, meeting expectations

The RICS UK Residential Market Survey house price balance, fell slightly to -69 in September 2023 from -68 in August


BUY GBPINR OCT @ 101.2 SL 100.9 TGT 101.55-101.75. 


JPYINR

Observations

JPYINR trading range for the day is 55.76-55.96.

USDINR NOV-OCT 0.0900 SELL JPYINR OCT @ 55.95 SL 56.15 TGT 55.75-55.6.

JPY steadied as escalating tensions in the Middle East boosted safe-haven demand for the currency.

Industrial production in Japan dropped by 0.7% mom in August 2023 Japan's biggest banks to raise housing loan rates after BOJ's policy tweak

SELL JPYINR OCT @ 55.95 SL 56.15 TGT 55.75-55.6.






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