Buy GBPINR Jan @ 105 SL 104.8 TGT 105.4-105.6 - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 86.12-87.12.
Rupee slumped to a fresh all time-low and is set to post its worst single-day decline in over two years
The annual inflation rate in India eased to 5.22% in December of 2024 from 5.38% in the previous month.
Traders scaled back expectations for Federal Reserve rate cuts this year, driven by a stronger-than-expected jobs report.
SELL USDINR JAN @ 86.8 SL 86.95 TGT 86.65-86.55.
EURINR
Observations
EURINR trading range for the day is 88.19-88.75.
Euro dropped as stronger-than-expected US jobs data led traders to reduce expectations for further Fed interest rate cuts this year.
Euro zone consumers hold back spending as economy stagnates
The euro zone economy has been skirting recession for the past year
BUY EURINR JAN @ 88.4 SL 88.2 TGT 88.7-88.9.
GBPINR
Observations
GBPINR trading range for the day is 104.8-105.6.
GBP extended losses as fiscal concerns and surging gilt yields weighed on UK assets.
Pressure seen on GBP fueled by sticky inflation, high borrowing, and concerns over Donald Trump’s policies.
The slide was exacerbated by stronger-than-expected US jobs data, raising fears of limited BOE rate cuts to support the economy.
BUY GBPINR JAN @ 105 SL 104.8 TGT 105.4-105.6.
JPYINR
Observations
JPYINR trading range for the day is 54.62-55.26.
JPY strengthened amid speculation that Bank of Japan policymakers might raise their inflation forecasts
Japan’s Economy Minister Ryosei Akazawa noted that the economy is at a “critical stage” in overcoming the public’s deflationary mindset.
Stronger-than-expected US economic data and hawkish expectations for Federal Reserve policy sparked risk-off sentiment in global markets.
SELL JPYINR JAN @ 55.15 SL 55.35 TGT 54.95-54.75.
