Sell USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
USDINR
USDINR trading range for the day is 83.21-83.45.
Rupee closed little changed as both weakness and subsequent recovery in dollar index failed to budge out of the narrow trading range
The S&P Global India Services PMI increased to 61.0 in September 2023 from 60.1 in August, beating market forecasts of 59.5
The RBI is likely to maintain interest rates for the fourth consecutive time at its October meeting.
SELL USDINR OCT @ 83.4 SL 83.55 TGT 83.25-83.12.
EURINR
EURINR trading range for the day is 87.51-87.91.
Euro remained in range amid concerns that central banks will set interest rates at increasingly restrictive levels for years to come.
The HCOB Eurozone Construction PMI edged slightly higher to 43.6 in September of 2023 from 43.4 in August
Data from Germany showed that trade turnover contracted at a considerable pace in August
BUY EURINR OCT @ 87.6 SL 87.4 TGT 87.85-88.
GBPINR
GBPINR trading range for the day is 100.83-101.57.
GBP pared gains after data showed the biggest slump in UK construction activity since 2020
Bank of England survey showed British firms see prices rising more slowly.
The S&P Global/CIPS UK construction PMI tumbled to 45.0 in September from August's 50.8, its lowest since May 2020
BUY GBPINR OCT @ 101.1 SL 100.85 TGT 101.4-101.65.
JPYINR
JPYINR trading range for the day is 56.02-56.46.
JPY steadied on weaker-than-expected US jobs data which lowered the odds that Fed would raise interest rates
The latest money market data from the Bank of Japan indicated that it did not conduct yen-buying operations when the currency plunged to 150 per dollar on Tuesday.
The au Jibun Bank Japan Services PMI was revised higher to 53.8 in September 2023
BUY JPYINR OCT @ 56 SL 55.8 TGT 56.25-56.45.
