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USDINR

Observation

USDINR trading range for the day is 83.94-84.1.

Rupee ended nearly flat with intervention by the Reserve Bank of India helping to stabilize the currency

Annual inflation rate in India increased to 3.65% in August 2024 from an upwardly revised 3.6% in July

India's robust growth prospects and consumption demand are unhurt

SELL USDINR SEP @ 84.02 SL 84.12 TGT 83.92-83.85.

EURINR

Observation

EURINR trading range for the day is 92.49-92.77.

Euro dropped as German wholesale prices drop the most in 4 months

The European Central Bank lowered its main interest rate by 0.25%, to 3.5%.

Producer prices in the Euro Area increased 0.8% month-over-month in July 2024, the most since December 2022

BUY EURINR SEP @ 92.6 SL 92.4 TGT 92.8-93.1.

GBPINR

Observation.

GBPINR trading range for the day is 109.37-109.91.

GBP dropped as Britain's economy stagnated unexpectedly in July, as manufacturing output fell.

GDP stalled for a second month in July, and industrial production unexpectedly shrank 0.8%.

The unemployment rate edged down to 4.1% and the British economy added 265K jobs

BUY GBPINR SEP @ 109.5 SL 109.3 TGT 109.8-110.

JPYINR

Observation

JPYINR trading range for the day is 58.33-59.53.

JPY eased as the greenback strengthened on a mixed US consumer inflation report

Bank of Japan board member Naoki Tamura said that the central bank must raise interest rates to at least 1% by late 2025.

Producer prices in Japan increased by 2.5% yoy in August 2024

BUY JPYINR SEP @ 58.8 SL 58.6 TGT 59-59.2.