Buy USDINR Feb @ 86.75 SL 86.65 TGT 86.85-87 - Kedia Advisory
USDINR
BUY USDINR FEB @ 86.75 SL 86.65 TGT 86.85-87.
Observations
USDINR trading range for the day is 86.7-86.88.
Rupee hit an all-time low hurt by portfolio outflows, expectations of a rate cut and the uncertainty about U.S. trade tariffs.
The rupee's 1-month realised volatility spiked to an over-one-year high of 3.3% in January after hovering at decadal lows last year.
U.S. President Donald Trump reiterating tariff threats on Mexico and Canada from Feb. 1.
EURINR
SELL EURINR FEB @ 90.25 SL 90.5 TGT 90-89.7.
Observations
EURINR trading range for the day is 89.94-90.52.
Euro dropped as weaker economic data fueled expectations of more European Central Bank rate cuts.
Euro zone manufacturers are more worried about cheap imports from China than tariffs from the United States
Euro zone consumers, forecasters see higher inflation despite ECB optimism
SELL EURINR FEB @ 90.25 SL 90.5 TGT 90-89.7.
GBPINR
SELL GBPINR FEB @ 108 SL 108.4 TGT 107.6-107.3.
Observations
GBPINR trading range for the day is 107.62-107.98.
GBP remained in range with traders digesting key monetary policy decisions and assessing the economic outlook for the UK.
British house prices lost some of their momentum in January when they rose by just 0.1%
Investors bet on three Bank of England rate cuts in 2025
JPYINR
SELL JPYINR FEB @ 56.7 SL 56.9 TGT 56.5-56.3.
Observations
JPYINR trading range for the day is 56.47-56.71.
JPY dropped as dollar holds gains as Trump reaffirms tariffs
BOJ Deputy Governor stated that the central bank plans to keep hiking rates if the economy and inflation align with expectations
Japan's housing starts declined by 2.5% year-over-year in December 2024
