Sell JPYINR Mar @ 56.25 SL 56.45 TGT 56.05-55.85 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
USDINR
Observations
* USDINR trading range for the day is 82.79-82.95.
* Rupee ended marginally higher tracking range bound price action across most of its Asian peers
* India's wholesale prices increased for the fourth straight month in February, though at a slower-than-expected pace
* Fitch Ratings revised India's GDP growth forecast for the ongoing and the next financial year upwards.
SELL USDINR MAR @ 82.9 SL 83 TGT 82.8-82.7.
EURINR
Observations
* EURINR trading range for the day is 90.55-90.77.
* Euro remained in range as traders continue to assess the monetary policy outlook.
* Germany’s wholesale prices decreased by 3% year-on-year in February 2024
* Industrial production in the Euro Area plunged by 3.2% month-over-month in January 2024
SELL EURINR MAR @ 90.6 SL 90.8 TGT 90.4-90.2.
GBPINR
Observations
* GBPINR trading range for the day is 105.84-106.32.
* GBP gains as Britain's economy had returned to growth in January
* The British economy expanded 0.2% month-over-month in January 2024
* The UK's trade deficit widened to £3.129 billion in January 2024.
SELL GBPINR MAR @ 106.2 SL 106.5 TGT 105.9-105.7.
JPYINR
Observations
*JPYINR trading range for the day is 56.09-56.31.
* JPY remained in range as BoJ Governor Ueda offered a slightly bleaker assessment of the economy.
* Japan’s economy is recovering moderately, although weakness has been seen in some data.
* The country’s economy returned to growth in the fourth quarter of 2023, averting a technical recession.
SELL JPYINR MAR @ 56.25 SL 56.45 TGT 56.05-55.85.
