Sell GBPINR JAN @ 121.4 SL 121.7 TGT 121.1-120.9 - Kedia Advisory
USDINR
SELL USDINR JAN @ 90.2 SL 90.35 TGT 90.05-89.9.
Observations
USDINR trading range for the day is 89.88-90.28.
Rupee welcomed 2026 with a marginal decline, weighed down by dollar demand from corporates
India's fiscal deficit for April to November, or the first eight months of this fiscal year, was at Rs 9.76 lakh crore
India is poised for a significant economic year in 2025, with real GDP expanding at an 8.2% rate in Q2 FY25-26
EURINR
SELL EURINR JAN @ 106 SL 106.3 TGT 105.7-105.5.
Observations
EURINR trading range for the day is 105.73-106.11.
Euro remains in range as investors continue to weigh the prospects for additional Federal Reserve policy easing in 2026
Euro zone business activity growth slowed more than expected at the end of 2025 as a contraction in manufacturing deepened.
Euro zone consumer confidence fell by 0.4 points in December from the November number.
GBPINR
SELL GBPINR JAN @ 121.4 SL 121.7 TGT 121.1-120.9.
Observations
GBPINR trading range for the day is 120.94-121.54.
GBP steadied as investors expect the BoE to follow a moderate monetary easing cycle next year.
BoE cut interest rates after a narrow vote by policymakers, but it signalled that the already gradual pace of lowering borrowing costs might slow further.
Manufacturing activity data due on Friday will give the next indication of the state of Britain's economy.
JPYINR
SELL JPYINR JAN @ 57.7 SL 57.9 TGT 57.5-57.3.
Observations
JPYINR trading range for the day is 57.27-58.07.
JPY steadied as investors weighed the country’s expansive fiscal policy.
The cabinet recently approved PM Takaichi’s record-setting 122.3 trillion yen budget, aiming to balance aggressive fiscal spending.
On the monetary policy front, markets are watching July for the next rate hike, though an earlier move is possible if the yen weakens further.
