Sell USDINR Mar @ 83 SL 83.1 TGT 82.9-82.8. - Kedia Advisory
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USDINR
Observation
USDINR trading range for the day is 82.9-83.04.
Rupee ended little changed as dollar demand eroded positive cues from an uptick in most Asian currencies.
The US Core PCE Price Index rose by 0.4% over the previous month in January
India's GDP expanded by 8.4% from the previous year in the December quarter, well above market expectations of 6.6%.
SELL USDINR MAR @ 83 SL 83.1 TGT 82.9-82.8.
EURINR
Observation
EURINR trading range for the day is 89.82-90.22.
Euro edged higher as investors look ahead to key inflation reports in major economies.
German retail sales declined by 0.4% month-over-month in January 2024.
ECB will continue putting a "floor" under market interest rates in the years to come
SELL EURINR MAR @ 90 SL 90.2 TGT 89.8-89.6.
GBPINR
Observation
GBPINR trading range for the day is 104.95-105.23.
GBP remained in range as markets continued to assess the latest macroeconomic data
UK mortgage approvals rise to highest since Oct 2022
Consumer credit in the United Kingdom grew by £1.877 billion in January 2024
SELL GBPINR MAR @ 105.15 SL 105.45 TGT 104.8-104.6.
JPYINR
Observation
JPYINR trading range for the day is 55.48-55.8.
JPY gains amid a softer risk tone and intervention fears.
BOJ’s Takata said that achievement of the 2% inflation target is becoming within sight
Japanese Retail Sales registered higher-than-expected growth of 2.3% over 12 months through January
SELL JPYINR MAR @ 55.6 SL 55.8 TGT 55.4-55.2.
