BUY USDINR Mar @ 87.5 SL 87.38 TGT 87.62-87.72 - Kedia Advisory
USDINR
BUY USDINR MAR @ 87.5 SL 87.38 TGT 87.62-87.72.
Observations
USDINR trading range for the day is 86.93-87.99.
Rupee logged its fifth straight monthly fall weighed down by foreign portfolio outflows and increased hedging in the onshore market.
However, periodic intervention by the RBI largely curbed one-way moves on the domestic unit.
The Indian GDP is expected to grow 6.5% in the 2024/2025 fiscal year ending March 2025.
EURINR
BUY EURINR MAR @ 91 SL 90.8 TGT 91.2-91.4.
Observations
EURINR trading range for the day is 90.84-91.44.
Euro dropped as traders assessed the escalation of trade tensions and its potential impact on the European economy
Retail sales in Germany rose by 0.2% month-over-month in January 2025
Germany’s import prices rose by 3.1% year-on-year in January 2025
GBPINR
BUY GBPINR MAR @ 110 SL 109.7 TGT 110.35-110.55.
Observations
GBPINR trading range for the day is 109.84-110.64.
GBP dropped as US President Donald Trump has tabled tariffs on the UK following a meet with PM Starmer.
BoE's Ramsden sees increased risk of above – target inflation
British house prices rose by a stronger-than-expected 0.4% in February compared with January
JPYINR
BUY JPYINR MAR @ 58.4 SL 58.2 TGT 58.6-58.8.
Observations
JPYINR trading range for the day is 58.04-59.02.
JPY dropped as dollar gains after Trump confirmed that his proposed 25% tariffs on Mexico and Canada will take effect on March 4
The Bank of Japan will continue tapering its government bond purchases despite recent increases in yields, Uchida said.
Data showed that Tokyo’s core inflation, slowed to 2.2% in February from 2.5% in January.
