SELL JPYINR MAR @ 56.4 SL 56.6 TGT 56.2-56 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 82.74-83.
Rupee's fell due to foreign outflows; regional peers weakness worsened by US inflation
The Ministry of Finance predicts a nearly 7% growth in the Indian economy in 2024-25
The current financial year, 2023-24, is expected to see a growth rate of 7.3%, making India the fastest-growing major economy
SELL USDINR MAR @ 82.9 SL 83 TGT 82.8-82.7.
EURINR
Observations
EURINR trading range for the day is 90.45-90.73.
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 @ 90.8 SL 91 TGT 90.5-90.3.
GBPINR
Observations
GBPINR trading range for the day is 105.75-106.17.
GBP steadied as UK GDP figures met expectations
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 55.98-56.5.
JPY steadied as BoJ Ueda said the central bank will seek an exit from easy policy when achievement of 2% inflation is in sight.
Data showed that producer prices in Japan rose more than expected in February.
The country’s economy returned to growth in the fourth quarter of 2023, averting a technical recession.
SELL JPYINR MAR @ 56.4 SL 56.6 TGT 56.2-56.
