Buy USDINR MAY @ 85.55 SL 85.45 TGT 85.65-85.75 - Kedia Advisory
USDINR
BUY USDINR MAY @ 85.55 SL 85.45 TGT 85.65-85.75.
Observations
USDINR trading range for the day is 85.32-85.84.
Rupee weakens as foreign bank dollar bids, soft yuan outweigh weak dollar cues
Consumer inflation in India fell more than expected to a near six-year low in April.
India's infrastructure output expanded by 0.5% from the previous year in April of 2025
EURINR
BUY EURINR MAY @ 96.3 SL 96.1 TGT 96.5-96.7.
Observations
EURINR trading range for the day is 95.94-96.72.
Euro steadied as investors kept a close eye on geopolitical developments.
Producer prices in Germany fell by 0.9% year-on-year in April 2025, following a 0.2% drop in March.
ECB is expected to continue lowering interest rates in June, with the possibility of further easing beyond that point.
GBPINR
BUY GBPINR MAY @ 114.5 SL 114.2 TGT 114.8-115
Observations
GBPINR trading range for the day is 114.1-114.8.
GBP steadied as investors turned optimistic ahead of key UK economic data
The UK and EU reached a landmark agreement to reset post-Brexit relations.
Markets are closely watching Thursday’s flash PMI figures, which are expected to show a smaller contraction in manufacturing
JPYINR
SELL JPYINR MAY @ 59.6 SL 59.8 TGT 59.4-59.2.
Observations
JPYINR trading range for the day is 58.68-60.18.
JPY strengthened as the US dollar weakened following Moody’s credit rating downgrade.
BOJ’s Shinichi Uchida said the central bank will continue to raise interest rates if economic growth re-accelerates.
Japan’s economy contracted in the first quarter of 2025, with GDP marking its first economic contraction in a year.
