Sell JPYINR Dec @ 56.35 SL 56.55 TGT 56.15-55.95 - Kedia Advisory
USDINR
Observations
USDINR trading range for the day is 84.45-86.09.
Rupee weakened pressured by continuous evidence of capital outflows and expectations of an incoming rate cut by the RBI.
Domestic inflation fell to 5.5% in November, as expected, to return within the central-bank’s tolerance range.
India's wholesale price inflation eased to 1.9% in November, down from 2.4% in October
BUY USDINR DEC @ 84.95 SL 84.85 TGT 85.05-85.15.
EURINR
Observations
EURINR trading range for the day is 89.17-89.39.
Euro steadied as investors expect the ECB to head to the neutral rate
Euro area inflation rate revised slightly lower to 2.2%
Euro area core inflation rate confirmed at 5-month low
SELL EURINR DEC @ 89.3 SL 89.5 TGT 89.1-88.9.
GBPINR
Observations
GBPINR trading range for the day is 107.58-108.34.
GBP gains as the latest UK inflation figures met expectations and attention turned to Fed’s upcoming policy decision
The inflation data cements prospects that the BoE will keep interest rates steady at 4.75% on Thursday.
The Fed is expected to cut interest rates by 25 basis points to 4.25%-4.50%.
SELL GBPINR DEC @ 108.1 SL 108.4 TGT 107.75-107.5.
JPYINR
Observations
JPYINR trading range for the day is 55.83-56.55.
JPY slipped as investors braced for the US Federal Reserve's latest policy decision.
Japan’s trade deficit plunged to JPY 117.62 billion in November 2024 from JPY 813.87 in the same month a year earlier
In Japan, speculation is growing that the Bank of Japan may hold off on an interest rate hike when it announces its decision.
SELL JPYINR DEC @ 56.35 SL 56.55 TGT 56.15-55.95.
