Sell EURINR MAY @ 97 SL 97.3 TGT 96.7-96.5 - Kedia Advisory
USDINR
SELL USDINR MAY @ 85.2 SL 85.35 TGT 85.05-84.9.
Observations
USDINR trading range for the day is 84.65-85.43.
Rupee rose as abrupt shifts in U.S. trade policy and concerns over fiscal health kept the dollar under pressure.
Dollar-rupee forward premiums fell as the rupee extended its recent rally and near-tenor U.S. bond yields nudged higher.
The 1-year dollar-rupee implied yield dipped below the 2% handle for the first time in two months.
EURINR
SELL EURINR MAY @ 97 SL 97.3 TGT 96.7-96.5.
Observations
EURINR trading range for the day is 96.52-97.32.
Euro setted flat as President Trump announced a delay in the planned 50% tariff on EU, extending the deadline to July 9.
EC President Leyen, stated that “Europe is ready to advance talks swiftly and decisively,” but noted that “a good deal” would require time, “until July 9.”
Germany’s Q1 GDP growth was revised up and the May German Ifo Business Climate Index beat expectations.
GBPINR
SELL GBPINR MAY @ 115.6 SL 115.9 TGT 115.3-115.
Observations
GBPINR trading range for the day is 115-115.86.
GBP rose driven by improved market sentiment after US President Donald Trump postponed 50% tariffs on the EU until July 9.
UK retail sales rose 1.2% in April, the fourth consecutive monthly increase, showing consumer resilience despite tax hikes and trade tensions.
Markets now see a 50% chance of a Bank of England rate cut by August, with another possible by year-end.
JPYINR
SELL JPYINR MAY @ 59.85 SL 60.05 TGT 59.65-59.55.
Observations
JPYINR trading range for the day is 59.27-60.15.
JPY steadied as President Donald Trump’s unpredictable trade policies rattled investor confidence in US assets.
Investors continue to gauge the BOJ’s policy outlook, with expectations mounting that it will raise interest rates further.
Japan’s core inflation rate unexpectedly accelerated to 3.5%—the highest level in over two years.
