Sell USDINR Jan @ 90.35 SL 90.5 TGT 90.2-90.1 - Kedia Advisory
USDINR
SELL USDINR JAN @ 90.35 SL 90.5 TGT 90.2-90.1.
Observations
USDINR trading range for the day is 90.12-90.42.
Rupee seen under pressure due to rising oil prices and consistent FIIs outflow.
India's annual retail inflation quickened to 1.33% in December from 0.71% in November, as the decline in food prices moderated
US ambassador to India, Sergio Gor, stated that both nations will talk on trade issues.
EURINR
SELL EURINR JAN @ 105.6 SL 105.9 TGT 105.3-105.
Observations
EURINR trading range for the day is 105.16-105.76.
Euro climbed as investors sold the dollar amid concerns over the Fed’s independence.
Weaker-than-expected Eurozone CPI data reduced bets on an interest rate hike by the ECB this year.
Investors also awaited key data this week, including Germany’s 2025 GDP figures and US consumer price inflation, for further guidance.
GBPINR
SELL GBPINR JAN @ 121.7 SL 122 TGT 121.4-121.2.
Observations
GBPINR trading range for the day is 120.96-121.86.
GBP bounces as the US DoJ imposes criminal charges on Fed’s Powell.
Data showed labor demand remained soft while wage growth accelerated in December
Investors await the UK employment and the US inflation data, to be released on Tuesday.
JPYINR
SELL JPYINR JAN @ 57.4 SL 57.6 TGT 57.2-57.
Observations
JPYINR trading range for the day is 56.03-59.23.
JPY faced pressure from mixed economic data that complicated the Bank of Japan’s rate-hiking path.
Political uncertainty rose after PM Takaichi’s coalition partner suggested a snap election could be held on February 8 or 15.
BOJ Governor reiterated that the central bank would continue raising interest rates if economic and price developments move in.
