Buy EURINR Dec @ 88.3 SL 88.1 TGT 88.5-88.7. - Kedia advisory
USDINR
Observations
USDINR trading range for the day is 84.89-85.25.
Rupee ends higher aided by likely dollar inflows and supported by the intervention from RBI
Tepid capital flows and concerns about India's slowing economic growth have hurt the rupee
Fed cut its benchmark interest rates by 25 basis points, but policymakers revised the number of rate cuts anticipated through 2025 down to two
SELL USDINR DEC @ 85.05 SL 85.15 TGT 84.95-84.85.
EURINR
Observations
EURINR trading range for the day is 87.99-88.69.
Euro dropped as concerns mounted over the potential impact of a second Trump administration on Europe.
EU Commission recommends slight euro zone fiscal tightening in 2025 and 2026
Decline in euro zone business activity eases in December, PMI shows
BUY EURINR DEC @ 88.3 SL 88.1 TGT 88.5-88.7.
GBPINR
Observations
GBPINR trading range for the day is 105.63-107.13.
GBP slipped after the Bank of England held interest rates but three policymakers voted to lower borrowing costs.
A higher number of BoE officials voted for an interest rate cut on Thursday, boosting dovish bets for 2025.
Britain ran a budget deficit of 11.249 billion pounds ($14.06 billion) in November
BUY GBPINR DEC @ 106.3 SL 106 TGT 106.6-106.8.
JPYINR
Observations
JPYINR trading range for the day is 54.29-55.23.
JPY dropped slightly following data showing Japan’s headline inflation rate rose to a three-month high of 2.9% in November
The Fed’s hawkish shift remains supportive of elevated US bond yields and undermines the JPY.
A stronger-than-expected Japan’s National CPI keeps the door open for a BoJ rate hike in 2025.
SELL JPYINR DEC @ 54.7 SL 54.9 TGT 54.5-54.3
