SELL GBPINR MAY @ 114 SL 114.3 TGT 113.7-113.4. - Kedia Advisory
USDINR
BUY USDINR MAY @ 85.35 SL 85.2 TGT 85.5-85.6.
Observations
USDINR trading range for the day is 84.89-85.81.
Rupee gained amid rising foreign inflows and lower crude oil prices.
Concerns over geopolitical tensions between India and Pakistan limited the upside
India's foreign exchange reserves rose for a seventh consecutive week and stood at a six-month high of $686.15 billion.
EURINR
SELL EURINR MAY @ 97.2 SL 97.4 TGT 97-96.8.
Observations
EURINR trading range for the day is 96.42-97.58.
Euro dropped as investors braced for a busy week of economic data and continued to monitor developments on the trade front
Signs of easing US-China trade tensions last week lent some support to the dolla
Market focus will shift to inflation data from both the Eurozone and the US, along with Friday’s highly anticipated US nonfarm payrolls report.
GBPINR
SELL GBPINR MAY @ 114 SL 114.3 TGT 113.7-113.4.
Observations
GBPINR trading range for the day is 113.17-114.09.
GBP weakened as dollar climbed toward 100, with investors positioning for critical U.S. economic data releases
The GfK Consumer Confidence Index in the United Kingdom fell 4 points to -23 in April 20
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 59.05-59.85.
JPY slipped as the dollar strengthened amid easing global trade tensions.
Bank of Japan is widely expected to keep its policy rate steady at 0.5% this week
The au Jibun Bank Japan Manufacturing PMI rose slightly to 48.5 in April 2025 from March’s 12-month low of 48.4
