USDINR trading range for the day is 83.95-84.05 - Kedia Advisory
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USDINR
Observation
USDINR trading range for the day is 83.95-84.05.
Rupee ended higher tracking gains across regional currencies ahead of the crucial U.S. jobs report
Lower Q1 GDP numbers a blip, no letup in growth: RBI Governor Shaktikanta Das
India's services PMI surges to five-month peak in August on resilient demand, easing prices
SELL USDINR SEP @ 84.1 SL 84.2 TGT 84-83.9.
EURINR
Observation
EURINR trading range for the day is 93.2-93.6.
Euro remained in range as Germany's economy is likely to stagnate this year
Germany's trade surplus narrowed to EUR 16.8 billion in July 2024 from EUR 20.4 billion in June
German industrial production shrank by 2.4% month-over-month in July 2024
SELL EURINR SEP @ 93.5 SL 93.7 TGT 93.3-93.1.
GBPINR
Observation
GBPINR trading range for the day is 110.28-110.96.
GBP remained in range amid the upbeat UK economic outlook
The Halifax House Price Index in the UK increased 4.3% year-on-year in August 2024
Overall economic activity in the UK expanded at a faster pace in August.
SELL GBPINR SEP @ 110.7 SL 111 TGT 110.4-110.1.
JPYINR
Observation
JPYINR trading range for the day is 58.4-59.14.
JPY gains as BOJ is expected to raise interest rates further amid persistent inflationary pressures and rising wages.
Reserve assets in Japan increased to $1.24 trillion in August 2024 from $1.22 trillion in July
Household spending in Japan rose in real terms by 0.1% yoy in July 2024
BUY JPYINR SEP @ 58.5 SL 58.3 TGT 58.75-58.95.
