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USDINR

Observations

USDINR trading range for the day is 83.23-83.33.

Rupee remained in range as investors awaited comments by senior Federal Reserve officials this week for fresh cues.

Rupee far forward premiums dropped with the one-year implied yield falling to 1.61%, down three basis points from the previous session

U.S. Treasury yields and the dollar retreated after data signalled the labour market in the world's largest economy was cooling

SELL USDINR NOV @ 83.3 SL 83.55 TGT 83.12-83.

EURINR

Observations

EURINR trading range for the day is 88.74-89.5

Euro dropped as caution dominated sentiment globally, with a rebound in the dollar and Treasury yields putting pressure

Industrial production in Germany sank 1.4% month-over-month in September 2023, following a downwardly revised 0.1% fall in August

Investors will assess a raft of economic reports in the region including Eurozone producer inflation and German industrial production data.

SELL EURINR NOV @ 89.2 SL 89.4 TGT 89-88.85.

GBPINR

Observations

GBPINR trading range for the day is 101.99-103.07.

GBP dropped amid a strengthening U.S. dollar, with investors closely watching economic data and market bets on the BOE’s future moves

Retail sales in the United Kingdom rose 2.6% on a like-for-like basis in October 2023 from a year ago

The Halifax House Price Index declined by 3.2% year-on-year in October 2023

SELL GBPINR NOV @ 102.5 SL 102.75 TGT 102.2-102.

JPYINR

Observations

JPYINR trading range for the day is 55.46-55.84.

JPY weakened weighed down by a rebound in the dollar and Treasury yields

Average cash earnings in Japan increased by 1.2% year-on-year in September 2023

Household spending in Japan declined in real terms by 2.8% yoy in September 2023

SELL JPYINR NOV @ 55.65 SL 55.85 TGT 55.45-55.25.