SELL JPYINR MAY @ 60.1 SL 60.3 TGT 59.9-59.7 - Kedia Advisory
USDINR
BUY USDINR MAY @ 85.3 SL 85.15 TGT 85.45-85.55.
Observations
USDINR trading range for the day is 84.95-85.83
Rupee ended lower as the possibility of rising tensions between India and Pakistan remained front and centre for traders
Indian inflation rate fell to its lowest in over five years in March, well below the RBI's mid-point target of 4%.
The Fed is expected to leave interest rates unchanged in the range of 4.25%-4.50% in the policy meeting on May 6-7
EURINR
SELL EURINR MAY @ 97.5 SL 97.8 TGT 97.2-97.
Observations
EURINR trading range for the day is 96.74-97.84.
Euro gained as investors braced for a busy week of economic data and continued to monitor developments on the trade front.
ECB may cut interest rates below neutral and keep maximum flexibility, ECB policymaker Olli Rehn said.
Germany’s GfK Consumer Climate Indicator increased to -20.6 heading into May 2025
GBPINR
SELL GBPINR MAY @ 114.5 SL 114.8 TGT 114.2-114.
Observations
GBPINR trading range for the day is 113.78-114.94.
GBP gained as easing US-China trade tensions boosted investor sentiment.
March retail sales surprised strongly to the upside, suggesting resilient domestic demand.
US President Trump mentioned ongoing tariff talks with China, signaling a potential de-escalation of the trade war, which had raised recession fears.
JPYINR
SELL JPYINR MAY @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 59.66-60.26.
JPY gains as investors navigated global trade uncertainties.
The dollar weakened as Beijing denying that it is engaged in trade negotiations with Washington despite Trump’s claims.
Investors now look ahead to the Bank of Japan’s monetary policy meeting this week
