Sell JPYINR Jan @ 54.6 SL 54.8 TGT 54.4-54.2 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 85.76-86.02.
Rupee logged its biggest one-day gain in more than a month as the dollar dipped towards a one-week low
Traders pondered whether U.S. President-elect Donald Trump's trade tariffs would not be as aggressive as anticipated.
India's economy is projected to grow by 6.4% in the 2024/25 fiscal year ending in March 2025
BUY USDINR JAN @ 85.9 SL 85.8 TGT 86-86.1.
EURINR
Observations
EURINR trading range for the day is 89.07-89.85.
Euro rose supported by stronger-than-expected inflation data in the Euro Area.
Annual inflation accelerated to 2.4% in December, its highest level since July, up from 2.2% in November.
Higher-than-expected inflation in Germany and Spain reinforced this sentiment, even as France and Italy reported softer inflation figures.
SELL EURINR JAN @ 89.6 SL 89.8 TGT 89.4-89.2.
GBPINR
Observations
GBPINR trading range for the day is 107.27-108.19.
GBP strengthened as the dollar weakened following reports that President-elect Donald Trump was considering targeted tariffs.
Expectations are building that the Bank of England may cut interest rates in 2025, following signs of economic stagnation.
The S&P Global UK Construction PMI fell to 53.3 in December 2024, the lowest in six months
SELL GBPINR JAN @ 107.8 SL 108.1 TGT 107.5-107.2.
JPYINR
Observations
JPYINR trading range for the day is 54.3-54.74.
JPY remained in range as investors are looking ahead to local wage data this week.
FM Kato reiterated his warning against speculative, one-sided moves in the currency, signaling the government's readiness to take action
The central bank stressed the need for caution given both domestic and global uncertainties.
SELL JPYINR JAN @ 54.6 SL 54.8 TGT 54.4-54.2.
