Sell Eurinr Jan @ 91.7 SL 91.9 TGT 91.5-91.3 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
USDINR
Observations
USDINR trading range for the day is 83.28-83.5.
Rupee ended weaker pressured by U.S. dollar demand from oil companies and foreign banks.
Finance Ministry said India's economy is expected to surpass the government's growth estimate of 6.5% in FY24.
The US labor data, including US Nonfarm Payrolls (NFP), will be in the spotlight this week.
BUY USDINR JAN @ 83.3 SL 83.16 TGT 83.45-83.55.
EURINR
Observations
EURINR trading range for the day is 91.35-92.29.
Euro falls as euro zone factory activity contracts for 18th month.
Euro zone bank lending remained weak in November,
ECB data shows ECB member cautious on lowering borrowing costs, inflation goal not met.
SELL EURINR JAN @ 91.7 SL 91.9 TGT 91.5-91.3.
GBPINR
Observations
GBPINR trading range for the day is 105.17-106.67.
GBP loses gains as UK manufacturing sector sees setback in growth. UK factory activities could be lower-than-projected due to festive mood.
The BoE may start reducing interest rates earlier due to deepening recession fears.
SELL GBPINR JAN @ 105.7 SL 106 TGT 105.4-105.2.
JPYINR
Observations
JPYINR trading range for the day is 58.9-59.34.
JPYINR FEB-JAN 0.3425 SELL JPYINR JAN @ 59.1 SL 59.3 TGT 58.85-58.65. JPY remained in range as investors stayed on the sidelines amid ongoing market holidays in Japan.
BoJ minutes show agreement to maintain easy policy and undermine JPY.
Wage growth and market expectations suggest BoJ may pivot away from ultra-dovish stance.
SELL JPYINR JAN @ 59.1 SL 59.3 TGT 58.85-58.65.
