Sell USDINR Feb@ 83.1 SL 83.25 TGT 82.95-82.85 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.84-83.08.
Rupee strengthened amid positive sentiment following the presentation of the domestic budget.
The US economy added 353K jobs last month, following an upwardly revised 333K rise in December
Rupee forward premiums fell, with the 1-year implied yield falling 3 bps to 1.82%.
SELL USDINR FEB @ 83.1 SL 83.25 TGT 82.95-82.85.
EURINR
Observations
EURINR trading range for the day is 90.13-90.61.
Euro recovers as mixed inflation data likely supported the ECB’s argument against rushing interest rate cuts.
Euro zone factory downturn eased for third month in January
ECB’s Lagarde said that officials unanimously agreed that it was premature to discuss interest rate cuts.
SELL EURINR FEB @ 90.3 SL 90.5 TGT 90.05-89.85.
GBPINR
Observations
GBPINR trading range for the day is 104.66-106.5.
GBP gains as investors evaluated a week filled with monetary policy decisions and a slew of economic data.
BoE's Bailey says UK recession is 'in the balance'
Bank of England says rates 'under review' as inflation to dip below 2%
SELL GBPINR FEB @ 105.8 SL 106 TGT 105.5-105.2.
JPYINR
Observations
JPYINR trading range for the day is 56.66-57.02.
JPY remained in range after a pushback from the Federal Reserve for a move in March
The consumer confidence index in Japan advanced to 38 in January of 2024 from 37.2 in December 2023
Japan's housing starts declined by 4.0 percent year-on-year in December 2023
SELL JPYINR FEB @ 56.8 SL 57 TGT 56.5-56.2.
