SELL EURINR APR @ 97.25 SL 97.5 TGT 97-96.75 - Kedia Advisory
USDINR
BUY USDINR APR @ 85.25 SL 85.1 TGT 85.4-85.5.
Observations
USDINR trading range for the day is 85-85.86.
Rupee ended higher as investors took stock of President Donald Trump’s shifting stance on Chinese tariffs.
The World Bank slashed its estimate for India by 0.4 percentage points to 6.3% for the fiscal year 2025–2026.
International Monetary Fund cut India's GDP growth forecast to 6.2%, down from its January estimate of 6.5%.
EURINR
SELL EURINR APR @ 97.25 SL 97.5 TGT 97-96.75.
Observations
EURINR trading range for the day is 96.91-97.43.
Euro dropped as concerns over the Federal Reserve’s independence eased slightly.
The dollar recovered some ground after President Trump stated he has no intention of dismissing Fed Chair Jerome Powell.
Eurozone Services PMI edged down to 49.7 in April 2025 from 51 in March and below forecasts of 50.5.
GBPINR
SELL GBPINR APR @ 113.8 SL 114.1 TGT 113.5-113.2.
Observations
GBPINR trading range for the day is 113.31-113.93.
GBP dropped as Trump pushes back fears of Fed Powell’s removal and intensified global trade war.
Trump is confident of closing bilateral deals with various nations soon.
Public sector net borrowing in the UK rose to £16.4 billion in March 2025 from £13.6 billion a year earlier
JPYINR
SELL JPYINR APR @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 59.68-60.44.
JPY weakened as optimism over possible U.S.-China tariff de-escalation lifted broader risk sentiment
Bank of Japan Governor said the central bank will keep raising interest rates if underlying inflation accelerates toward its 2% target, as it projects.
Food prices in Japan rose by 7.4% year-on-year in March 2025, slowing slightly from a 7.6% increase in the previous month
