Sell JPYINR Apr @ 54.3 SL 54.5 TGT 54.1-54 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.36-83.54.
Rupee remained in range as dollar sales by RBI helped curb the local unit's losses.
India's merchandise trade deficit in March stood at $15.6 billion
India's wholesale price index-based inflation accelerated to 0.53 per cent in March on an annual basis
BUY USDINR APR @ 83.4 SL 83.3 TGT 83.5-83.6.
EURINR
Observations
EURINR trading range for the day is 88.9-89.18.
Euro settled flat after pressure seen amid diverging scenarios for ECB and the Fed.
ECB signaled that if underlying inflation continues to slow at the predicted pace, it could be appropriate to reduce levels of monetary tightening in June.
Retail sales in the Euro Area declined by 0.5% month-over-month in February 2024.
SELL EURINR APR @ 89.1 SL 89.3 TGT 88.9-88.7.
GBPINR
Observation
GBPINR trading range for the day is 103.88-104.56.
GBP settled flat as geopolitical tensions improve the appeal for safe-haven assets.
UK’s employment and inflation data will influence speculation over BoE rate cuts.
The UK economy is on track to come out of a technical recession.
SELL GBPINR APR @ 104.3 SL 104.6 TGT 104-103.7.
JPYINR
Observations
JPYINR trading range for the day is 53.97-54.85.
JPY dropped as strong US economic data dampened hopes for multiple interest rate cuts from Fed this year.
Japan's finance minister says he's watching FX moves closely
Japan's machinery orders rise sharply, may ease concerns about domestic demand
SELL JPYINR APR @ 54.3 SL 54.5 TGT 54.1-54.
