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News / Other data

* Markets aren’t prepared for how far US central bankers are willing to go to tame the hottest inflation in a generation, according to Morgan Stanley (NYSE:MS) Investment Management’s Jim Caron.

* The U.S. dollar weakened Wednesday, handing back some of the previous session's outsized gains, with traders looking for fresh clues on future U.S. monetary policy from the minutes of the Federal Reserve's December meeting.

* Most Asian currencies rose slightly on Wednesday as a recovery in the dollar appeared to have run out of steam, with markets now awaiting fresh cues on U.S. monetary policy from the minutes of the Federal Reserve’s December meeting.

* The U.S. dollar climbed strongly Tuesday ahead of the week's key economic data. At 03:55 ET (08:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 1% to 104.345. Tuesday's main economic release is the U.S. manufacturing PMI for December, which is expected to show the sector still in contraction territory.

* Most Asian currencies rose on Tuesday, extending gains as markets bet on slower interest rate hikes and a weaker dollar this year, with the Japanese yen surging to a six-month high on expectations of tighter monetary policy.

* A look at the day ahead in Asian markets from Jamie McGeever. Global market trading properly kicks into gear on Tuesday, with the latest insight into how China's manufacturing sector closed last year likely to set the tone for the day ahead in Asia.

Data inference

* No Major Event.

Chart for the day

GBPINR (DAILY) - 100.0670

Observation

* The GBPINR currency appears to be in an uptrend, as indicated by its support on a bullish trendline which prices respected since September 2022.

* The Currency pair has also broken the prior day high after 14 trading session, pointing towards the reversal from the throwback.

* The 10-day exponential moving average (EMA) may have previously acted as a resistance for the currency, but it appears to have been surpassed.

* The relative strength index (RSI) on the daily time frame is also above 50, indicating increasing momentum for the currency.

Inference

* Buy at 100.2500 Target 102.0000 SL 98.7900

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