BUY EURINR MAY @ 94.8 SL 94.6 TGT 95-95.2. - Kedia Advisory
USDINR
SELL USDINR MAY @ 85.45 SL 85.6 TGT 85.3-85.2.
Observations
USDINR trading range for the day is 84.38-86.04.
Rupee gained spurred by the cessation of military hostilities between India and Pakistan.
The annual inflation rate in India fell to 3.16% in April of 2025, the lowest since July of 2019
U.S. and China announced an agreement to reduce reciprocal tariff reductions for the next three months.
EURINR
BUY EURINR MAY @ 94.8 SL 94.6 TGT 95-95.2.
Observations
EURINR trading range for the day is 93.85-95.59.
Euro weakened as easing trade tensions between Washington and Beijing boosted the US dollar.
Money markets now price the ECB’s deposit facility rate at 1.75% by year-end—back to levels last seen in mid-April
The euro zone's fight to bring inflation back to the 2% target is on track but the growth environment is deteriorating
GBPINR
SELL GBPINR MAY @ 112.7 SL 122.4 TGT 113-113.3.
Observations
GBPINR trading range for the day is 111.38-113.68. GBP weakened as the dollar strengthened on news that the US and China had agreed to sharp tariff reductions. UK retail sales surged by 6.8% on a like-for-like basis in April 2025, marking the fastest pace of growth in more than three years Bank of England narrowly voted to cut the Bank Rate by 25 bps to 4.25%, its lowest level in two years.
JPYINR
SELL JPYINR MAY @ 58 SL 58.2 TGT 57.8-57.6.
Observations
JPYINR trading range for the day is 57.68-58.08. JPY dropped as the initial trade agreement between the US and China boosted investor confidence in the greenback. Japanese PM Ishiba asserted that Japan would not accept any initial trade deal with the US that excludes provisions on automobiles. BOJ is adopting a cautious stance amid uncertainty over U.S. tariff policy, according to its April 30–May 1 policy meeting summary.
