SELL USDINR JAN @ 83.2 SL 83.35 TGT 83.05-82.95 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.91-83.21.
Rupee ended little changed ahead of the key U.S. inflation data that could potentially help investors reassess the outlook for interest rates.
The annual inflation rate in the US rose to 3.4% in December, from 3.1% in November
India is on track to become one of the top three global economies, Indian Prime Minister Modi said.
SELL USDINR JAN @ 83.2 SL 83.35 TGT 83.05-82.95.
EURINR
Observations
EURINR trading range for the day is 90.98-91.5.
Euro gains as investors digested comments from multiple ECB policymakers
Euro zone facing weak growth, possible recession, ECB's de Guindos says
Euro zone's services sector may slow further, ECB says
BUY EURINR JAN @ 91.1 SL 90.9 TGT 91.3-91.5.
GBPINR
Observations
GBPINR trading range for the day is 105.67-106.21.
GBP rose as investors digested remarks by Bank of England Governor Andrew
The governor told the UK parliament that consumers and the UK economy are holding up despite the rapid rise in borrowing costs
Money markets currently pricing in around 115 basis points (bps) of BoE rate cuts in 2024.
BUY GBPINR JAN @ 105.7 SL 105.4 TGT 106-106.2.
JPYINR
Observations
JPYINR trading range for the day is 57.11-57.53.
JPY dropped as investors awaited US inflation data and domestic inflation figures
Bank of Japan maintained ultra-loose monetary settings and did not comment on ending negative rates
Reserve assets in Japan rose to $1.295 trillion in December, highest level since July 2022
BUY JPYINR JAN @ 57 SL 56.8 TGT 57.2-57.4.
