Sell GBPINR MAY @ 114 SL 114.3 TGT 113.7-113.4 - Kedia Advisory
USDINR
BUY USDINR MAY @ 85.3 SL 85.15 TGT 85.45-85.6.
Observations
USDINR trading range for the day is 85.17-85.97.
Rupee falls on fresh dollar demand from importers, foreign fund outflows.
India’s merchandise trade deficit was at its widest in five months in April.
India's foreign exchange reserves rose to $690.62 billion as of May 9, compared with $686.06 billion a week earlier
EURINR
SELL EURINR MAY @ 96 SL 96.2 TGT 95.75-95.5.
Observations
EURINR trading range for the day is 95.48-96.44.
Euro gains as dollar seen pressure amid renewed concerns about a potential slowdown in the US economy.
The Eurozone's trade surplus surged to a record €36.8 billion in March 2025, up from €22.8 billion a year earlier
The European Central Bank is expected to continue cutting borrowing costs in June and potentially beyond.
GBPINR
SELL GBPINR MAY @ 114 SL 114.3 TGT 113.7-113.4.
Observations
GBPINR trading range for the day is 113.48-114.42.
GBP gains after data showed the British economy grew faster than expected in March.
UK economy grew 0.2% in March from February, compared to a flat reading of 0.0% expected.
UK unemployment rate rose to a 2021 high of 4.5%, while businesses cut jobs for a third consecutive month.
JPYINR.
SELL JPYINR MAY @ 58.6 SL 58.8 TGT 58.4-58.2.
Observations
JPYINR trading range for the day is 58.45-59.37.
JPY appreciated despite weaker-than-expected economic growth figures.
Japan’s economy contracted 0.2% quarter-on-quarter in Q1, marking its first decline in a year
The Bank of Japan acknowledged that the economy is likely to moderate due to the effects of US trade policy.
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