Sell JPYINR MAY @ 59.8 SL 60 TGT 59.6-59.4. - Kedia Advisory
USDINR
SELL USDINR MAY @ 85.65 SL 85.75 TGT 85.55-85.45.
Observations
USDINR trading range for the day is 85.35-86.45.
Rupee declined to a more-than-one-month low pressured by likely outflows from local equities
India Manufacturing PMI rose slightly to 58.3 in May 2025 from 58.2 in April, exceeding expectations of 58.
India Services PMI increased to 61.2 in May 2025, up from 58.7 in the previous month.
EURINR
SELL EURINR MAY @ 97.2 SL 97.5 TGT 96.9-96.7
Observations
EURINR trading range for the day is 96.8-97.58.
Euro steadied as mounting concerns over the US fiscal outlook weighed on investor sentiment.
The potential for increased financial instability in the world’s largest economy has triggered a broad risk-off tone across global markets.
The Euro Area consumer confidence indicator rose by 1.4 to -15.2 in May 2025 from -16.6 in April and above market expectations of -16.
GBPINR
SELL GBPINR MAY @ 115.1 SL 115.4 TGT 114.8-114.5
Observations
GBPINR trading range for the day is 114.54-115.94.
GBP gained following the release of hotter-than-expected UK inflation data.
Public sector net borrowing in the UK rose to £20.2 billion in April 2025, up from £19.1 billion a year earlier.
Annual inflation accelerated to 3.5% in April, reaching the highest level since January 2024.
JPYINR
SELL JPYINR MAY @ 59.8 SL 60 TGT 59.6-59.4.
Observations
JPYINR trading range for the day is 59.46-60.42.
JPY gains amid mounting concerns over the US fiscal outlook weighed on the greenback.
The au Jibun Bank Japan Manufacturing PMI increased to 49.0 in May 2025, up from 48.7 in the previous month
BOJ review its plan to reduce Japanese government bond (JGB) purchases at its June 2025 meeting and set new guidelines for April 2026
