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USDINR

Observation

USDINR trading range for the day is 83.36-83.46.

Rupee remained in tight range as elevated capital outflows in India clashed against the anticipation of RBI intervention.

The US annual inflation rate slowed to 3.1% in November, the lowest in five months and aligning with market expectations.

India's retail inflation surges 5.5 per cent in November from 4.8 per cent in October

SELL USDINR DEC @ 83.5 SL 83.65 TGT 83.35-83.2.

EURINR

Observation

EURINR trading range for the day is 89.63-90.45.

Euro gains as support seen after ZEW Indicator of Economic Sentiment for Germany went up to 12.8 in December 2023

The ZEW Indicator of Economic Sentiment for the Euro Area jumped by 9.2 points to 23 in December 2023 ECB’s

Lagarde deemed PEPP reinvestments the first line of defence against any fundamentally "unwarranted" widening of yield spreads within the eurozone

SELL EURINR DEC @ 90.2 SL 90.4 TGT 90-89.8.

GBPINR

Observations

GBPINR trading range for the day is 104.51-105.13.

GBP dropped as investors digested a slew of economic data, eagerly anticipating the Bank of England's upcoming policy meeting

The latest UK jobs report revealed that British total pay growth slowed more than expected to 7.2% in the three months leading up to October

The UK central bank is expected to keep interest rates steady at a 15-year high during its last meeting of 2023.

SELL GBPINR DEC @ 105.1 SL 105.4 TGT 104.75-104.5.

JPYINR

Observations

JPYINR trading range for the day is 57.27-57.75.

JPY gains as traders walked back expectations for a Japan rate hike

Producer prices in Japan rose 0.3% year-on-year in November 2023

BOJ Governor Kazuo Ueda discussed various options and scenarios should the central bank decide to start raising interest rates.

SELL JPYINR DEC @ 57.6 SL 57.8 TGT 57.4-57.2.