SELL JPYINR JAN @ 57.7 SL 57.9 TGT 57.5-57.3 - Kedia Advisory
USDINR
SELL USDINR JAN @ 90.9 SL 91.1 TGT 90.7-90.5.
Observations
USDINR trading range for the day is 90.06-91.4.
Rupee fell, the lowest in four weeks amid weaker capital inflows and less dovish signals from Federal Reserve officials.
The merchandise trade balance in India widened to $25 billion in December of 2025 from $20.6 billion in the corresponding period of the previous year.
The unemployment rate in India inched higher to 4.8% in December of 2025 from the series low 4.7% touched in the previous month.
EURINR
SELL EURINR JAN @ 105.6 SL 105.9 TGT 105.3-105.
Observations
EURINR trading range for the day is 104.88-106.04.
Euro gained on Rupee weakness after prices seen pressure as investors weighed economic data from the Eurozone.
Germany’s economy grew 0.2% in 2025, ending a two-year contraction, supported by household and government consumption.
ECB member François Villeroy de Galhau called expectations of a rate hike in 2026 “fanciful.”
GBPINR
SELL GBPINR JAN @ 121.8 SL 122.1 TGT 121.5-121.2.
Observations
GBPINR trading range for the day is 120.69-122.43.
GBP gains amid weakness in Rupee and UK economic growth exceeded expectations.
GDP rose 0.3% in November, rebounding from a 0.1% contraction in October and surpassing forecasts of a 0.1% increase.
Market expectations for monetary easing have shifted slightly: traders are now pricing in around 46 basis points of cuts by year-end.
JPYINR
SELL JPYINR JAN @ 57.7 SL 57.9 TGT 57.5-57.3.
Observations
JPYINR trading range for the day is 57.13-57.83.
JPY gains on short covering as investors looked ahead to the Bank of Japan’s upcoming policy meeting for any signals on its rate-hike trajectory.
The central bank is widely expected to maintain current policy next week, with markets pricing in the next rate increase around June.
BOJ Governor Kazuo Ueda reiterated that the bank stands ready to raise rates if economic and price developments align with projections.
