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 83.02-83.36.
Rupee closed stronger as a pullback in the dollar index and steady crude oil prices offered some relief to the local unit.
Core PCE prices in the US, increased by 0.1 percent month-over-month in August 2023, the least since November 2020
India's fiscal deficit increased to INR 6.43 trillion in April-August 2023-24
SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12.
EURINR
Observations
EURINR trading range for the day is 87.92-88.58.
Euro gains as investors were digesting a batch of inflation data from the Eurozone.
The latest CPI report showed that inflation across the 20 countries slowed more than expected to 4.3% in September
German import prices dropped by 16.4% year-on-year in August 2023
SELL EURINR OCT @ 88.2 SL 88.4 TGT 87.95-87.75.
GBPINR
Observations
GBPINR trading range for the day is 101.52-102.32.
GBP bounced back after data showed that Britain's economy had performed better.
The latest GDP report indicated that Britain's economy grew by 0.2% in the second quarter
Business investment in the United Kingdom rose 4.1% on quarter in the Q2 of 2023, edging up
SELL GBPINR OCT @ 102 SL 102.3 TGT 101.65-101.4.
JPYINR
Observations
JPYINR trading range for the day is 55.79-56.45.
JPY dropped as the Bank of Japan remained committed to ultra-easy monetary policy
Japan retail sales growth stays at 5-month high
Industrial production in Japan unexpectedly was flat from the prior month in August 2023
SELL JPYINR OCT @ 56.1 SL 56.3 TGT 55.85-55.65.
