BUY JPYINR APR @ 60 SL 59.8 TGT 60.2-60.4. - Kedia Advisory
USDINR
SELL USDINR APR @ 86.9 SL 87.1 TGT 86.75-86.6.
Observations
USDINR trading range for the day is 86.32-87.16.
Rupee declined as sweeping U.S. tariffs came into effect, including a 104% levy on China.
The Reserve Bank of India slashed its key repo rate by 25 basis points to 6% during its April meeting.
The central bank revised the economic growth forecast for FY2025 - 26 GDP to 6.5% from 6.7%, with a projection of 6.5% for Q1
EURINR
BUY EURINR APR @ 95.9 SL 95.6 TGT 96.2-96.5
Observations
EURINR trading range for the day is 94.58-96.86.
Euro gained as investors paused to await clearer signals on how the EU plans to respond to U.S. tariffs.
German economic institutes cut forecast for 2025 to 0.1% growth
ECB’s Guindos said he was "relatively optimistic" about Europe's chances of navigating trade tensions with US.
GBPINR
BUY GBPINR APR @ 111.2 SL 110.9 TGT 111.5-111.8.
Observations
GBPINR trading range for the day is 110.41-111.91.
GBP rises as investors expect the US-China trade war to lead the US to a recession.
US President Trump increased reciprocal tariffs on China to 104% against Beijing’s retaliation.
Deutsche Bank expects the BoE to cut interest rates by 50 bps in May.
JPYINR
BUY JPYINR APR @ 60 SL 59.8 TGT 60.2-60.4.
Observations
JPYINR trading range for the day is 58.9-60.8.
JPY rose as the imminent implementation of US President Trump’s sweeping tariffs boosted demand for safer assets.
The latest US tariffs would include a 24% levy on Japanese goods and a 25% duty on car imports to the US.
Japan’s current account surplus surged to a record high in February, driven by strong export growth.
