Buy EURINR DEC @ 90.4 SL 90.2 TGT 90.65-90.85 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.87-83.19.
Rupee remained in range helped by custodial banks selling dollars, before being pulled back by dollar demand from importers
RBI Governor said it does not imply a shift towards a neutral stance as concerns about inflation persist.
Fed’s Williams, said the Fed is not really talking about rate cuts right now and it is "premature" to speculate about them.
SELL USDINR DEC @ 83.2 SL 83.35 TGT 83.05-82.95.
EURINR
EURINR trading range for the day is 90.37-90.95.
Euro dropped after comments from several policymakers lowered bets for interest rate cuts by major central banks next year.
Euro zone business activity declines further in Dec – PMI
Euro zone industry output falls by more than expected in October
BUY EURINR DEC @ 90.4 SL 90.2 TGT 90.65-90.85.
GBPINR
Observations
GBPINR trading range for the day is 104.88-105.64.
GBP dropped as markets continued to assess expectations of looser financial conditions by the Fed
The S&P Global/CIPS United Kingdom Manufacturing PMI fell to 46.4 in December 2023
Industrial production in the UK dropped 0.8% month-over-month in October 2023.
BUY GBPINR DEC @ 105 SL 104.7 TGT 105.35-105.55.
JPYINR
JPYINR trading range for the day is 58.11-58.63.
JPY dropped ahead of BOJ’s monetary policy decision.
Japan Manufacturing PMI declined to 47.7 in December 2023 from 48.3 in the previous month
Japan Services PMI rose to 52 in December 2023 from 50.8 in November
BUY JPYINR DEC @ 58.1 SL 57.9 TGT 58.35-58.55.
