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USDINR

Observations

USDINR trading range for the day is 83.12-83.38.

Rupee closed stronger supported by dollar inflows even as its Asian peers slipped

The US economy added 216K jobs in December, compared to 173K in November and market expectations of 170K

The S&P Global India Composite PMI rose to 58.5 in December 2023 from 57.4 in November

SELL USDINR JAN @ 83.3 SL 83.45 TGT 83.15-83.05.

EURINR

Observations

EURINR trading range for the day is 90.62-91.38.

Euro dropped as investors consider the impact of recent inflation and PMI data on monetary policy.

Inflation in the Euro Area rose to 2.9%, lower than the expected 3%, driven by energy base effects.

Retail sales in Germany dropped by 2.5% month-over-month in November 2023, the biggest decline since April 2022

BUY EURINR JAN @ 90.8 SL 90.6 TGT 91.05-91.2.

GBPINR

Observations

GBPINR trading range for the day is 104.98-105.92.

GBP remained under pressure as investors anticipate a mild recession in the United Kingdom.

The Halifax House Price Index rose by 1.7% year-on-year in December 2023

The S&P Global UK Construction PMI increased to 46.8 in December 2023, up from November's 45.5

BUY GBPINR JAN @ 105.3 SL 105 TGT 105.6-105.8.

JPYINR

Observations

JPYINR trading range for the day is 57.33-57.95.

JPY dropped amid reduced bets for a BoJ policy shift in January

The au Jibun Bank Japan Services PMI was revised lower to 51.5 in December 2023

The au Jibun Bank Japan Composite PMI was revised downward to 50.0 in December 2023

BUY JPYINR JAN @ 57.45 SL 57.25 TGT 57.65-57.8.