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USDINR

Observations

 USDINR trading range for the day is 82.71-82.85.

 Rupee ended little changed as investors gauge the timing of interest rate cuts by Fed.

 Annual inflation rate in the US unexpectedly edged up to 3.2% in February, compared to 3.1% in January

 Annual retail inflation in India was little changed at 5.09% in February 2024.

SELL USDINR MAR @ 82.85 SL 82.95 TGT 82.75-82.65.

EURINR

Observations

EURINR trading range for the day is 90.4-90.64.

Euro dropped as ECB’s Lagarde has taken a cautious approach, emphasizing the necessity for more evidence before contemplating rate adjustments.

Euro Area economy stagnated in the fourth quarter of 2023, following a 0.1% contraction in the previous three-month period

Slight eurozone fiscal contraction in 2025 appropriate – ministers

SELL EURINR MAR @ 90.6 SL 90.8 TGT 90.4-90.2.

GBPINR

Observations

GBPINR trading range for the day is 105.53-106.35.

GBP dropped as investors digested the latest UK jobs report

The number of payrolled employees in UK rose 20 thousand, or 0.1% to a record 30.4 million in February 2024

UK’s unemployment rate edged up to 3.9% from November 2023 to January 2024

SELL GBPINR MAR @ 106.1 SL 106.4 TGT 105.8-105.6.

JPYINR

Observations

JPYINR trading range for the day is 56.11-56.55.

JPY dropped as business survey index fell sharply to -6.7% in the first quarter of 2024

Japan's economy recovering but showing signs of weakness, says BOJ chief Ueda

Producer prices in Japan rose by 0.6% year-on-year in February 2024

SELL JPYINR MAR @ 56.4 SL 56.6 TGT 56.2-56.