BUY USDINR FEB @ 86.65 SL 86.55 TGT 86.75-86.85-Kedia Advisory
USDINR
BUY USDINR FEB @ 86.65 SL 86.55 TGT 86.75-86.85.
Observations
USDINR trading range for the day is 86.33-87.11
Rupee closed flat amid dollar sales by state-run banks and as traders awaited the Feds monetary policy decision
India's foreign exchange reserves decreased by $1.8 billion India's business growth slowed to a 14-month low in January
EURINR
BUY EURINR FEB @ 90.2 SL 90 TGT 90.4-90.6.
Observations
EURINR trading range for the day is 89.9-90.94.
Euro dropped as traders caught their breath ahead of the Fed’s meeting and European Central Bank's on Thursday.
Bank lending to households in the Eurozone rose by 1.1% year-on-year to €6.928 trillion in December 2024.
The GfK Consumer Climate Indicator for Germany declined to -22.4 heading into February 2025
GBPINR
BUY GBPINR FEB @ 107.5 SL 107.2 TGT 107.8-108.
Observations
GBPINR trading range for the day is 107.27-108.29.
GBP dropped as investors turned their attention to central bank meetings and US trade policies.
UK economy showed resilience in January, with both services and manufacturing PMIs exceeding forecasts.
Bank of England is still likely to cut rates by 25 bps in February, though the stronger data suggests it won’t accelerate the pace of cuts.
JPYINR
BUY JPYINR FEB @ 56.3 SL 56.1 TGT 56.5-56.7.
Observations
JPYINR trading range for the day is 55.76-57.2.
JPY dropped as investors prepared for the upcoming Federal Reserve policy decision.
JPY also faced pressure from Trump’s escalating tariff threats
Consumer confidence index in Japan decreased to 35.2 in January 2025, down from 36.2 in the previous month.
