SELL GBPINR APR @ 114 SL 114.3 TGT 113.7-113.4. - Kedia Advisory
USDINR
BUY USDINR APR @ 85.35 SL 85.2 TGT 85.5-85.6.
Observations
USDINR trading range for the day is 84.81-86.01.
Rupee ended weaker as investors stayed cautious amid fears of an escalation in tensions with Pakistan.
President Trump reaffirmed that trade negotiations with China are ongoing despite denials from Beijing.
USD/INR forward premiums and implied volatility rose on concerns over brewing tensions between the countries.
EURINR
SELL EURINR APR @ 97.2 SL 97.4 TGT 97-96.8.
Observations
EURINR trading range for the day is 96.03-97.67.
Euro dropped as Euro zone business growth has stalled in April
Euro zone consumer confidence fell by 2.2 points in April from the March number
President Trump stated that his administration was in discussions with China
GBPINR
SELL GBPINR APR @ 114 SL 114.3 TGT 113.7-113.4.
Observations
GBPINR trading range for the day is 112.79-114.39.
GBP recovered as British retail sales rose unexpectedly in March to cap a strong first quarter.
The GfK Consumer Confidence Index in the United Kingdom fell 4 points to -23 in April 2025
IMF cuts UK 2025 growth forecast to 1.1% from 1.6%
JPYINR
SELL JPYINR APR @ 59.8 SL 60 TGT 59.5-59.3.
Observations
JPYINR trading range for the day is 59.08-60.02.
JPY slipped on signs of easing global trade tensions.
Signs of advancement in US trade talks with Japan and South Korea also supported the dollar.
Tokyo’s core inflation rate, surged to a 2-year high of 3.4% in April.
