Sell GBPINR MAY @ 129.5 SL 129.8 TGT 129-128.6 - Kedia Advisory
USDINR
SELL USDINR MAY @ 95.8 SL 96 TGT 95.6-95.4.
Observations
USDINR trading range for the day is 95.37-96.15.
Rupee fell to an all-time low, pressured by stubbornly high oil prices and persistent foreign portfolio outflows.
Morgan Stanley estimates a promising economic growth rate of 6.7% for India in FY27 Retail inflation reached a four-month peak of 3.5% in April.
This rise was fueled by increasing food and gold/silver prices.
EURINR
SELL EURINR MAY @ 112.25 SL 112.55 TGT 111.9-111.6.
Observations
EURINR trading range for the day is 111.92-112.66.
Euro steadied as investors weighed the impact of stalled US-Iran negotiations and mounting expectations for further ECB rate hikes.
Fears over the fragile ceasefire and persistent inflation have led markets to price in three ECB rate increases by year-end.
German wholesale prices jumped 6.3% year-on-year in April, the highest since February 2023, amid ongoing Middle East tensions.
GBPINR
SELL GBPINR MAY @ 129.5 SL 129.8 TGT 129-128.6.
Observations
GBPINR trading range for the day is 128.76-130.12.
GBP steadied as markets focused on potential leadership challenges to Prime Minister Keir Starmer.
UK trade deficit widened to £9.66 billion in March 2026, up from an upwardly revised £5.34 billion in the previous month.
Manufacturing production in the UK advanced by 1.2% MOM in March 2026, sharply exceeding market forecasts of a 0.2% decline.
JPYINR
SELL JPYINR MAY @ 60.8 SL 61 TGT 60.5-60.25.
Observations
JPYINR trading range for the day is 60.61-61.09.
JPY steadied on accelerating US inflation, which reinforced expectations that Fed could maintain higher interest rates.
BoJ’s meeting suggested that policymakers debated the possibility of additional interest rate increases as early as the next meeting
The OECD projected that the Bank of Japan’s policy rate could rise to 2% by the end of 2027.
