IGI Logo

USDINR

Observations

USDINR trading range for the day is 83.79-83.97.

Rupee softens pressured by month-end US Dollar demandfrom importers and investors awaits Fed Powell speech.

Rupee posted its best month since June boosted by strongrisk appetite following the Fed’s outsized rate cut andeconomic stimulus measures in China.

Foreign exchange reserves climbed for the sixth straightweek to a record high of $692.3 billion as of Sept. 20.

SELL EURINR OCT @ 94 SL 94.2 TGT 93.8-93.6.

EURINR

Observations

EURINR trading range for the day is 93.11-94.57.

Euro edged up as investors braced for a busy week ofeconomic data from the Eurozone

Preliminary figures are anticipated to show inflation in theEuro Area falling to the ECB's 2% target, its lowest sinceJune 2021.

Germany's inflation is forecast to decline to 1.7%, the lowestsince February 2021, while Italy's could drop to 0.8%.

SELL EURINR OCT @ 94 SL 94.2 TGT 93.8-93.6.

GBPINR

Observations

GBPINR trading range for the day is 111.73-112.83

GBP gains as traders assess the economic and monetarypolicy outlook.

The British economy grew 0.5% on quarter in Q2 2024,slightly less than 0.6% in the first estimate

Business investment in the United Kingdom rose by 1.4%quarter-on-quarter in the Q2 of 2024

SELL GBPINR OCT @ 112.5 SL 112.7 TGT 112.2-112.

JPYINR

Observations

JPYINR trading range for the day is 58.56-59.42.

PY surged after for Shigeru Ishiba won the presidentialelection, securing his position as Japan’s next primeminister.

Market participants view Ishiba’s victory as supportive ofpotential interest rate hikes by the Bank of Japan.

apanese retail sales grew more than expected in August,while industrial production came inweaker-than-anticipated.

SELL JPYINR OCT @ 59 SL 59.2 TGT 58.7-58.5.