SELL GBPINR MAR @ 113.15 SL 113.45 TGT 112.8-112.5 - Kedia Advisory
USDINR
SELL USDINR MAR @ 87.4 SL 87.5 TGT 87.25-87.15.
Observations
USDINR trading range for the day is 87.19-87.45.
Rupee closed nearly unchanged wedged between the weakness in Asian currencies and broad-based interbank dollar sales.
The annual inflation rate in India fell to 3.62% in February of 2025 from the revised 4.26% in the previous month
India's industrial production grew by 5.0% year-on-year in January 2025
EURINR
SELL EURINR MAR @ 95.3 SL 95.5 TGT 95.1-94.9.
Observations
EURINR trading range for the day is 95.05-95.49.
Euro gains on Ukraine's readiness to accept a month-long ceasefire
Support also seen as pledges of higher deficit spending among the Eurozone's major economies supported a stronger growth outlook.
ECB signaled that monetary conditions in the bloc are becoming less restrictive following their widely expected rate cut
GBPINR
SELL GBPINR MAR @ 113.15 SL 113.45 TGT 112.8-112.5.
Observations
GBPINR trading range for the day is 112.54-113.32.
GBP steadied as traders stayed wary amid continued uncertainty about global economic conditions.
Data by the British Retail Consortium and KPMG showed that retail sales growth slowed again in February.
BOE’s Ramsden warned that persistent wage pressures could keep inflation elevated but suggested future rate cuts could accelerate if needed.
JPYINR
SELL JPYINR MAR @ 59.15 SL 59.35 TGT 58.9-58.7.
Observations
JPYINR trading range for the day is 58.71-59.29.
JPY dropped on profit booking after seen supported as growing US recession fears fueled demand for safe-haven assets.
Japan's annual wholesale inflation hit 4.0% in February
Japan’s Business Survey Index for large manufacturing firms dropped to -2.4% in the first quarter of 2025
