Sell EURINR Apr @ 97.45 SL 97.65 TGT 97.2-97 - Kedia Advisory
USDINR
SELL USDINR APR @ 85.95 SL 86.1 TGT 85.8-85.7.
Observations
USDINR trading range for the day is 85.39-86.45.
Rupee rose aided by likely dollar inflows into local stocks.
India’s wholesale prices increased by 2.05% year-on-year in March 2025, slowing from a 2.38% growth in February
The dollar-rupee's 1-month realised volatility and the 1-month implied volatility are both perched near two-year highs.
EURINR
SELL EURINR APR @ 97.45 SL 97.65 TGT 97.2-97.
Observations
EURINR trading range for the day is 96.87-98.23.
Euro dropped as mounting global trade tensions reignited recession fears and dented investor confidence.
The ZEW Indicator of Economic Sentiment for Germany sank to -14 in April 2025, the lowest since July 2023
Eurozone industrial production rose by 1.1% month-over-month in February 2025
GBPINR
SELL GBPINR APR @ 113.7 SL 114 TGT 113.4-113.1.
Observations
GBPINR trading range for the day is 112.71-114.15.
GBP rose as markets responded to easing trade fears and shifting BOE expectations.
The BoE is seen as likely to cut rates soon — with markets nearly fully pricing in a rate cut in May.
The number of payrolled employees in the United Kingdom declined by 78 thousand, or 0.3%.
JPYINR
SELL JPYINR APR @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 59.59-60.53.
JPY slipped as a rebound in risk appetite dampened demand for the safe-haven currency.
Japan’s industrial production rose 2.3% month-over-month in February 2025, slightly below the preliminary estimate of 2.5%
Investors are also closely monitoring upcoming trade negotiations between Washington and Tokyo.
