Sell EURINR MAR @ 90 SL 90.2 TGT 89.8-89.6 - Kedia Advisory
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USDINR
Observation
USDINR trading range for the day is 82.91-83.05.
Rupee ended slightly weaker weighed down by weakness in its Asian peers
The US economy expanded an annualized 3.2% in Q4 2023, slightly below 3.3% in the advance estimate
Investors are currently pricing in a 63% chance of a rate cut at the Fed's June policy meeting, down from 73% a week earlier.
SELL USDINR MAR @ 83 SL 83.1 TGT 82.9-82.8.
EURINR
Observation
EURINR trading range for the day is 89.59-90.13.
Euro remained weak as investors remained cautious ahead of key inflation data
Euro zone lending stagnated in January, ECB says
European Central Bank officials agreed that it was premature to discuss interest rate cuts
SELL EURINR MAR @ 90 SL 90.2 TGT 89.8-89.6.
GBPINR
Observation
GBPINR trading range for the day is 104.59-105.39.
GBP slipped with investors avoiding risks before key inflation data
Bank of England's Bailey sees signs of UK economy upturn
The futures market shows traders widely expect the BOE to cut rates in August, with a slim chance of a cut in June.
SELL GBPINR MAR @ 105.15 SL 105.45 TGT 104.8-104.6
JPYINR
Observation
JPYINR trading range for the day is 55.27-55.55
JPY dropped amid disappointing economic data, as the country fell into a technical recession
BOJ's Shimizu says likelihood of achieving inflation target 'not sufficiently high'
The index of coincident economic indicators in Japan, revised downward to 115.9 in December 2023 from a flash figure of 116.2
SELL JPYINR MAR @ 55.45 SL 55.65 TGT 55.25-55.05.
