BUY JPYINR FEB @ 56.9 SL 56.7 TGT 57.1-57.3 - Kedia Advisory
USDINR
SELL USDINR FEB @ 87.1 SL 87.25 TGT 86.95-86.85
Observations
USDINR trading range for the day is 86.78-87.16.
Rupee ended little changed wedged between gains in regional peers and importers' dollar demand
The annual inflation rate in India fell to 4.31% in January of 2025 from 5.22% in the previous month
Industrial production in India grew by 3.2% year-on-year in December 2024
EURINR
BUY EURINR FEB @ 90.7 SL 90.5 TGT 90.9-91.1.
Observations
EURINR trading range for the day is 90.18-91.18.
Euro edged up buoyed as Trump ordered top U.S. officials to begin talks on ending the war in Ukraine.
Germany's current account surplus narrowed to €24.0 billion in December 2024 from €29.1 billion in the same month of 2023
Eurozone industrial production fell by 1.1% month-over-month in December 2024
GBPINR
BUY GBPINR FEB @ 108.6 SL 108.3 TGT 108.9-109.2.
Observations
GBPINR trading range for the day is 108.14-109.08.
GBP appreciates after better-than-expected GDP growth
The British economy expanded 0.9% in 2024, higher than 0.4% in 2023
Manufacturing production in the UK increased by 0.7% month-over-month in December 2024
JPYINR
BUY JPYINR FEB @ 56.9 SL 56.7 TGT 57.1-57.3.
Observations
JPYINR trading range for the day is 56.62-57.38.
JPY weakened as hotter-than-expected US consumer inflation data led traders to scale back expectations for further
Fed interest rate cuts. Producer prices in Japan increased by 4.2% yoy in January 2025
Bank of Japan Governor Kazuo Ueda provided no clear guidance on the future path of interest rates.
