BUY JPYINR APR @ 57.6 SL 57.4 TGT 57.85-58 - Kedia Advisory
USDINR
BUY USDINR APR @ 85.65 SL 85.5 TGT 85.8-85.9.
Observations
USDINR trading range for the day is 85.54-86.04.
Rupee settled flat as markets await the announcement of U.S. reciprocal levies.
The HSBC India Manufacturing PMI was adjusted upward to 58.1 in March 2025
The Indian economy is estimated to achieve a growth of 6.5% in FY25 despite considerable external headwinds
EURINR
BUY EURINR APR @ 92.6 SL 92.3 TGT 92.9-93.2.
Observations
EURINR trading range for the day is 92.42-93.02.
Euro seen supported as investors cautiously awaited US President Donald Trump’s latest round of tariffs.
Euro zone inflation drops in likely boost for rate cut bets
Euro zone factory activity shows signs of recovery in March – PMI
GBPINR
BUY GBPINR APR @ 110.8 SL 110.5 TGT 111.2-111.5.
Observations
GBPINR trading range for the day is 110.51-111.35.
GBP dropped as traders reacted to a weaker-than-expected February inflation reading
British Finance Minister Reeves said that UK inflation is expected to average 3.2% in 2025, up from the 2.6% projected in October.
Expectations for less aggressive BoE rate cuts further lend support ahead of Trump’s tariffs.
JPYINR
BUY JPYINR APR @ 57.6 SL 57.4 TGT 57.85-58
Observations
JPYINR trading range for the day is 57.3-58.1.
JPY gains as investors prepared for US President Donald Trump’s latest round of tariffs.
Bank of Japan Governor Kazuo Ueda warned that the new US tariffs could significantly affect global trade and economic growth.
Data showed that business sentiment in Japan weakened during the first quarter
