Sell JPYINR Feb @ 58.25 SL 58.45 TGT 58.05-57.85 - Kedia Advisory
USDINR
BUY USDINR FEB @ 86.65 SL 86.55 TGT 86.75-86.85.
Observations
USDINR trading range for the day is 86.5-86.86.
Rupee ended little changed as dollar demand from oil companies weighed.
Dollar/rupee forward premiums dropped on the back of the RBI’s announcement of a $10 billion FX swap.
The implied yield on the 1-year USD/INR premium dropped to a near three-month low of 1.98% on the day.
EURINR
SELL EURINR FEB @ 91 SL 91.2 TGT 90.75-90.6.
Observations
EURINR trading range for the day is 90.62-91.28.
Euro strengthens as conservatives win German election
Data showed that Eurozone private sector activity held steady in February, with the PMI holding steady at 50.2
Eurozone Services PMI fell to 50.7 in February 2025, the lowest in three months, down from 51.3 in January
GBPINR
SELL GBPINR FEB @ 109.8 SL 110.1 TGT 109.5-109.3.
Observations
GBPINR trading range for the day is 109.37-110.15.
GBP steadied as recent data reinforced the expectation BOEnd will maintain a cautious approach to rate cuts.
The annual inflation rate unexpectedly rose to 3% last month, the highest in ten months, exceeding forecasts of 2.8%.
Services inflation climbed to 5%, slightly below the Bank of England's projection of 5.2%.
JPYINR
SELL JPYINR FEB @ 58.25 SL 58.45 TGT 58.05-57.85.
Observations
JPYINR trading range for the day is 57.92-58.32.
JPY gains supported by stronger-than-expected inflation data in Japan
BOJ officials also signaled their intention to adjust policy if economic conditions continue to evolve as anticipated.
Data showed core inflation in Japan rose to 3.2% in January, up from 3% in December, exceeding forecasts of 3.1%.
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