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 84.93-85.81.
Rupee settled flat on the back of the US-China trade agreement and a ceasefire agreement between India and Pakistan.
India’s wholesale prices rose by 0.85% year-on-year in April 2025, easing from a 2.05% increase in March
India's retail inflation eases to a 6-year low of 3.16% in April
EURINR
SELL EURINR MAY @ 96 SL 96.2 TGT 95.75-95.5.
Observations
EURINR trading range for the day is 94.8-96.7.
Euro gains on stronger-than-expected German economic sentiment and a surprise decline in US inflation.
Germany’s ZEW Economic Sentiment Index jumped to 25.2 in May, reflecting growing optimism for the next six months.
Germany's consumer price inflation was confirmed at 2.1% in April 2025, the lowest since October 2024
GBPINR
SELL GBPINR MAY @ 114 SL 114.3 TGT 113.7-113.4.
Observations
GBPINR trading range for the day is 112.82-114.56.
GBP gained as US Dollar came under pressure following softer-than-expected US inflation data.
BOE’s Pill said that he was worried inflation in Britain could prove stronger than policymakers expect
The market is pricing in a cut in interest rates of up to 48.6 basis points in total by the end of the year.
JPYINR
SELL JPYINR MAY @ 58.6 SL 58.8 TGT 58.4-58.2.
Observations
JPYINR trading range for the day is 57.85-58.93.
JPY strengthened as the dollar weakened following softer-than-expected US inflation data.
Japan’s producer prices rose 4% year-on-year in April, down from 4.2% in March, marking the slowest pace since December.
BOJ maintained a cautious policy stance, citing elevated uncertainty around both economic activity and inflation dynamics.
