Buy GBPINR Apr @ 104.7 SL 104.4 TGT 105-105.2 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.35-83.57.
Rupee ended little changed as dollar sales by exporters helped offset weakness in the currency's Asian peers.
India Manufacturing PMI was revised lower to 59.1 in March 2024 from preliminary estimates of 59.2
The odds of the Fed keeping rates unchanged in June have risen to 41%, from about 30% a week earlier
SELL USDINR APR @ 83.5 SL 83.6 TGT 83.4-83.3.
EURINR
Observations
EURINR trading range for the day is 89.34-90.32.
Euro dropped as investors anticipate more policy easing from ECB compared to Fed this year.
Eurozone Manufacturing PMI was revised higher to 46.1 in March 2024 from a preliminary estimate of 45.7.
Germany Manufacturing PMI was revised slightly higher to 41.9 in March 2024 from a preliminary of 41.6.
BUY EURINR APR @ 89.7 SL 89.5 TGT 90-90.2.
GBPINR
Observation
GBPINR trading range for the day is 104.45-105.39.
GBP remains on backfoot due to risk aversion, easing UK Inflation.
UK’s shop price inflation grew 1.3% in March, its slowest pace in more than two years.
The S&P Global UK Manufacturing PMI was revised higher to 50.3 in March 2024 from a preliminary of 49.9
BUY GBPINR APR @ 104.7 SL 104.4 TGT 105-105.2.
JPYINR
Observations
JPYINR trading range for the day is 55.11-55.55.
JPY steadied as Finance Minister Shunichi Suzuki reiterated warnings against sharp currency declines
Survey showed that sentiment among large manufacturers in Japan fell to +11 in Q1 from an upwardly revised +13 in Q4
The au Jibun Bank Japan Manufacturing PMI stood at 48.2 in March 2024
BUY JPYINR APR @ 55 SL 54.8 TGT 55.25-55.5.
