Sell JPYINR Mar @ 59.5 SL 59.7 TGT 59.2-59 - Kedia Advisory
USDINR
BUY USDINR MAR @ 87.4 SL 87.25 TGT 87.55-87.65.
Observations
USDINR trading range for the day is 87.05-87.69.
Rupee dropped amid persistent outflows from local stocks, ongoing economic uncertainty and trade tariff concerns.
RBI said that it will infuse $21 billion in Rupee liquidity into the banking system.
Fed’s Chair Powell warning that policy uncertainty makes it difficult for the US central bank to enact policy adjustments.
EURINR
SELL EURINR MAR @ 95 SL 95.25 TGT 94.75-94.5.
Observations
EURINR trading range for the day is 94.19-95.45.
Euro gains as risk appetite improved, while investors continued to navigate global economic and trade uncertainties.
Germany's trade surplus fell to EUR 16 billion in January 2025 from EUR 20.7 billion in December 2024
Industrial production in Germany increased 2% month-over-month in January 2025, rebounding from a 1.5% decline in December 2024
GBPINR
SELL GBPINR MAR @ 113 SL 113.3 TGT 112.7-112.5.
Observations
GBPINR trading range for the day is 112.33-113.27.
GBP rose driven by a weaker US dollar amid concerns about the US economy and the impact of upcoming tariffs.
GBP also benefited from expectations that UK interest rates will stay higher for longer.
BoE’s Ramsden warned that persistent wage pressures could keep inflation elevated but suggested future rate cuts could accelerate if needed
JPYINR
SELL JPYINR MAR @ 59.5 SL 59.7 TGT 59.2-59.
Observations
JPYINR trading range for the day is 59.23-59.59.
JPY strengthened amid escalating concerns over a global trade war and a potential US economic slowdown fueled.
Japan's current account turned to a deficit of JPY 256.6 billion in January 2025
Japan's loan growth accelerated in February 2025, with the total value of loans rising 3.1% year-on-year
