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 83.05-83.19.
Rupee ended little changed, awaiting fresh cues for directional momentum
Core PCE prices in the US, rose by 2.9% on the year in December, the least since March 2021
The US economy expanded 3.3% in Q4, way more than forecasts of 2%
SELL USDINR JAN @ 83.2 SL 83.35 TGT 83.05-82.95.
EURINR
Observations:
EURINR trading range for the day is 90.37-90.71.
Euro dropped as euro zone business activity contracted in January
European Central Bank kept interest rates unchanged at record-high levels Pledged to maintain restrictive levels to bring inflation back to 2% target
SELL EURINR JAN @ 90.6 SL 90.8 TGT 90.4-90.2.
GBPINR
Observations:
GBPINR trading range for the day is 105.26-106.46.
GBP steadied after UK Composite PMI rose to 52.5 in January, highest in seven months
UK retail sales declined sharply, raising risk of recession in Q4 UK growth momentum improving, driven by expansion in services sector
SELL GBPINR JAN @ 105.8 SL 106 TGT 105.5-105.3.
JPYINR
Observations:
JPYINR trading range for the day is 56.19-56.51.
JPY dropped as dollar index steadied as investors look forward to the fourth quarter gross domestic product
The BoJ's hawkish tilt could act as a tailwind for the JPY amid a subdued US Dollar price action.
Japan's top currency diplomat Masato Kanda said he was closely watching how central bank decisions
SELL JPYINR JAN @ 56.4 SL 56.6 TGT 56.2-56.
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