SELL GBPINR MAY @ 115.6 SL 115.9 TGT 115.3-115. - Kedia Advisory
USDINR
BUY USDINR MAY @ 85.2 SL 85.05 TGT 85.35-85.45.
Observations
USDINR trading range for the day is 84.59-86.43.
Rupee rose as worries over U.S. fiscal health and the impact of trade tariffs continued to weigh on the dollar.
India cenbank to transfer record surplus of 2.69 trln rupees to government for FY25
India Manufacturing PMI rose to 58.3 in May from the previous reading of 58.2.
EURINR
SELL EURINR MAY @ 97.1 SL 97.4 TGT 96.8-96.6.
Observations
EURINR trading range for the day is 96.31-97.61.
Euro pared gains after US President Trump reignited trade tensions by declaring that negotiations with the EU are “going nowhere”
President Trump: Recommending a 50% tariff on the European Union and start June 1st.
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 114.63-116.01.
GBP steadied amid upbeat economic data and relief on the cost-of-living front.
The GfK Consumer Confidence Index for UK rose by 3 points to -20 in May 2025, surpassing market expectations of -22
Retail sales in April jumped by a more-than-expected 1.2% month-on-month, marking the fourth straight monthly gain.
JPYINR
SELL JPYINR MAY @ 59.85 SL 60.05 TGT 59.65-59.55.
Observations
JPYINR trading range for the day is 59.35-60.15.
JPY dropped on profit booking rose underpinned by hotter-than-anticipated inflation data and weaker dollar.
Japan's annual inflation rate stood at 3.6% in April 2025, unchanged from the previous month
Japan’s core consumer price index, rose 3.5% year-on-year in April 2025, up from 3.2% in March.
