USDINR trading range for the day is 91.41-92.03 - Kedia Advisory
USDINR
SELL USDINR JAN @ 91.7 SL 91.9 TGT 91.5-91.3.
Observations
USDINR trading range for the day is 91.41-92.03.
Rupee gains support as sentiment improves after India cut EU car import tariffs to 40% from 110%.
India's private sector activity rebounded in January, with the HSBC Flash Composite Output Index rising to 59.5.
India's foreign exchange reserves have reached a new high of $701.36 billion.
EURINR
BUY EURINR JAN @ 109 SL 108.7 TGT 109.3-109.6.
Observations
EURINR trading range for the day is 107.15-111.73.
Euro surged as the US dollar extended last week’s losses amid heightened market caution and ahead of Fed policy announcement on Wednesday.
Eurozone Manufacturing PMI increased to 49.4 in January 2026, up from 48.8 in December and above market expectations of 49.1.
Eurozone Services PMI decreased to 51.9 in January 2026, the lowest in four months, from 52.4 in December and below forecasts of 52.6.
GBPINR
BUY GBPINR JAN @ 125.6 SL 125.3 TGT 125.9-126.2.
Observations
GBPINR trading range for the day is 125.01-126.23.
GBP rose as the US dollar softened amid heightened market caution over potential yen intervention in Japan.
UK shop price inflation rose 1.5% year-on-year in January 2026, the highest level since February 2024 and well above expectations of a 0.7% increase.
UK Consumer Confidence Index edged up to -16 in January 2026 from -17 in December, pointing to household resilience rather than renewed optimism.
JPYINR
BUY JPYINR JAN @ 59.5 SL 59.3 TGT 59.7-59.9.
Observations
JPYINR trading range for the day is 57.15-60.75.
JPY rallied as traders remained on alert to the prospect of a coordinated currency intervention by authorities in the U.S. and Japan.
BOJ Governor said the central bank would keep a close eye on whether prospects of steady wage gains will prod more companies to pass on rising labour costs.
A leading indicator of Japan's services sector prices rose 2.6% in December from a year earlier.
