SELL USDINR DEC @ 90.1 SL 90.3 TGT 89.9-89.7- Kedia Advisory
SELL USDINR DEC @ 90.1 SL 90.3 TGT 89.9-89.7.
Observations
USDINR trading range for the day is 89.77-90.39.
Rupee steadied ahead of Fed meet and two-day trade talks between the United States and India begin.
ADB raised India’s 2025 GDP forecast to 7.2% from 6.5%, following stronger-than-expected 8.2% growth in the fiscal quarter ending September.
Fitch Ratings has boosted India's economic growth forecast for FY26 to 7.4 percent.
SELL EURINR DEC @ 105.25 SL 105.5 TGT 105-104.7.
Observations
EURINR trading range for the day is 104.48-105.36.
Euro remained in range as growing speculation that the ECB is done cutting interest rates.
ECB’s Lagarde said in recent statements that the Eurozone economy is in a "good place," with inflation close to the 2% target.
ECB’s Schnabel expressed confidence in the region’s economic outlook and stated that she remains comfortable with the possibility of a rate hike.
SELL GBPINR DEC @ 120.3 SL 120.6 TGT 120-119.7.
Observations
GBPINR trading range for the day is 119.5-120.38.
GBP steadied as traders awaited October GDP data for a steer on the UK economy.
BOE should continue to cut borrowing costs gradually, Ramsden said, citing uncertainty around estimates for the neutral level of interest rates.
Financial markets now put the chance of a BoE rate cut next week at around 88%.
SELL JPYINR DEC @ 57.8 SL 58 TGT 57.6-57.4.
Observations
JPYINR trading range for the day is 57.4-58.02.
JPY dropped as BOJ Governor said the central bank is getting closer to attaining its inflation target, hinting at a potential near-term rate hike.
Japan’s producer prices rose 2.7% year-on-year in November 2025, unchanged from October and in line with market expectations.
The Reuters Tankan index for Japanese manufacturers fell to +10 in December 2025 from a near four-year high of +17 in November.
