Sell JPYINR Mar @ 58 SL 58.2 TGT 57.8-57.6 - Kedia Advisory
USDINR
BUY USDINR MAR @ 86.55 SL 86.4 TGT 86.7-86.85.
Observations
USDINR trading range for the day is 86.46-86.92.
Rupee jumped to its highest level in over three weeks, boosted by likely dollar inflows and persistent weakness in the greenback.
India's wholesale inflation in February rose to 2.38% year-on-year, from 2.31% in January
India's retail inflation fell below the central bank's 4% target in February mainly due to a decline in vegetable prices
EURINR
SELL EURINR MAR @ 95 SL 95.3 TGT 94.7-94.5.
Observations
EURINR trading range for the day is 94.42-95.12.
Euro steadied as traders awaited further updates on Germany’s fiscal stimulus.
Germany agreed on a fiscal deal that could boost defense spending and revive growth in Europe’s largest economy.
Investors are closely monitoring developments in the ongoing trade war and the situation in Ukraine.
GBPINR
SELL GBPINR MAR @ 112.85 SL 113.1 TGT 112.5-112.2.
Observations
GBPINR trading range for the day is 112.34-112.74.
GBP steadied driven by expectations that UK interest rates will stay higher for longer.
The Bank of England downgraded its first-quarter growth forecast to 0.1%, down from the 0.4% projected in November.
Investors now turn their attention to the BoE’s monetary policy decision, where interest rates are expected to remain steady at 4.5%.
JPYINR
SELL JPYINR MAR @ 58 SL 58.2 TGT 57.8-57.6.
Observations
JPYINR trading range for the day is 57.42-58.44.
JPY weakened as investors braced for the Bank of Japan’s upcoming monetary policy decision.
Japan's output gap in the October-December quarter turned positive for the first time in six quarters
Retail sales in Japan advanced by 3.9% year-on-year in January 2025, up from a downwardly revised 3.5% growth in December 2024
