Sell JPYINR Feb @ 58.2 SL 58.4 TGT 57.9-57.7 - Kedia Advisory
USDINR
SELL USDINR FEB @ 86.75 SL 86.85 TGT 86.65-86.55.
Observations
USDINR trading range for the day is 86.32-86.96.
Rupee weakened pressured by dollar demand from importers and weakness in local shares
India's rate panel shifts focus to growth as inflation seen easing, minutes show
India Manufacturing PMI fell to 57.1 in February 2025, down from 57.7 in the previous month.
EURINR
BUY EURINR FEB @ 90.7 SL 90.5 TGT 90.9-91.1.
Observations
EURINR trading range for the day is 90.42-91.22.
Euro gains as Eurozone private sector activity showed little growth in February.
Germany Manufacturing PMI rose to 46.1 in February 2025 from 45 in January, surpassing market expectations of 45.5
Germany Services PMI eased to 52.2 in February 2025, down from 52.5 in January and slightly below market forecasts of 52.5
GBPINR
BUY GBPINR FEB @ 109.5 SL 109.2 TGT 109.8-110.
Observations
GBPINR trading range for the day is 109.26-110.1.
GBP edged up after data showed UK consumer spending picked up much more sharply than expected in January
Retail sales in the UK increased 1.7% month-over-month in January 2025, surpassing market expectations
The GfK Consumer Confidence Index in the United Kingdom rose by 2 points to -20 in February 2025
JPYINR
SELL JPYINR FEB @ 58.2 SL 58.4 TGT 57.9-57.7.
Observations
JPYINR trading range for the day is 57.74-58.34.
JPY settled flat as hotter-than-expected inflation figures strengthened the case for a hawkish outlook on BOJ monetary policy.
Data showed core inflation in Japan rose to 3.2% in January, up from 3% in December, exceeding forecasts of 3.1%.
Headline inflation also increased to 4%, up from 3.6%, marking the highest level in two years.
