Daily FX Trends - Mecklai Financial

Daily FX Trends - Commentaries

	USD/INR	EURO/USD	GBP/USD	USD/JPY	USD/CHF
Macro Support-Resistance Levels	88.50-92.50	1.1250-1.2100	1.2800-1.3700	142.00-159.00	0.7600-0.8300
Sentiment against USD	Negative	Positive	Positive	Negative	Negative
Forecast for the day	89.65-89.20	1.1635-1.1740	1.3425-1.3515	156.25-157.30	0.7960-0.7985

Spot rupee ended at 90.03/04 to a dollar level after opening at 89.92/93 levels. The USDINR pair traded in a broad range between 89.74 and 90.1275 on alternate selling and buying. Equity market benchmarks ended about 1.02 lower today.
DXY is trading higher at 98.81 levels. The Dollar index extends its gains against major currencies ahead of this week’s Non Farm Payrolls data amid weakness in Euro and GBP. Meanwhile, data from Germany showed a surprise surge of 5.6 m/m and 10.7 y/y in November
For the Eurozone the data releases were mixed. EZ PPI rose by 0.5 m/m in November, On a yearly basis, the Euro area's PPI decreased by 1.7. The unemployment rate across the Eurozone stood at 6.3 in November 2025, down from 6.4 in October but higher than the 6.2 recorded in November 2024.
Important data releases scheduled today: US: Challenger Job cuts y/y; Weekly Unempl. Claims; Prelim Non farm productivity q/q; Unit labour costs q/q; Trade balance; Final Wholesale Inventories m/m;

Rupee opened lower this morning at 89.95 levels against previous close of 89.89. Advance estimates of India’s GDP showed that the domestic economy might grow 7.4 p.a. in the FY 2025-26. Equity market benchmarks are trading flat in early trades with negative bias.

DXY is trading at 98.70 level today. USD is holding on to its modest gains earlier amid mixed data showing weakening job market amid resilient growth.

December ADP private payrolls from the US came in slightly weaker than expected, but the data generated little market reaction. That muted response reflects the broader interpretation that the labor market is cooling gradually rather than deteriorating sharply.

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