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News / Other data.

* 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.

* 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.

* China's Yuan finished the domestic session at a two-week high against the dollar on Friday, but still looked set for the worst annual performance in 28 years. The onshore yuan finished the domestic trading session at 6.9514 per dollar, the strongest such close since Dec. 14.

* The dollar edged up on Monday, pulling away from recent six-month lows against a basket of major currencies. The U.S. currency has weakened as markets bet a Federal Reserve tightening cycle may be nearing an end.

* European Central Bank President Christine Lagarde said the currency union’s newest member proves that the euro has lasting appeal. “Croatia worked hard to become the 20th member of the euro area, and it succeeded,” Laggard said in a statement on Sunday. “It shows the euro is an attractive currency, which brings stability to its members.”

Data inference

* No Major Event.

Chart for the day

GBPINR (DAILY) - 99.0550

Observation

* The GBPINR currency pair appears to be trending downward, as evidenced by its formation of lower lows and lower highs.

* The stock has also broken through a bullish trendline that was in place since late September 2022, indicating a potential reversal in the price trend.

* Furthermore, the 10-day exponential moving average (EMA), which previously acted as a support level for the prices, is now acting as resistance, supporting the idea of a trend reversal.

* Additionally, the relative strength index (RSI) on the daily time frame has fallen below the 50 mark, indicating a loss of upward momentum and further supporting the potential for downward movement.

Inference

* Sell below 98.8100 Target 97.7000 SL 99.5000

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