Sell USDINR Apr @ 83.35 SL 83.45 TGT 83.25-83.15 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.14-83.32.
Rupee closed higher aided by likely inflows and lower U.S. bond yields.
The annual inflation rate in the US rose to 3.5% in March, compared to 3.2% in February and above market expectations of 3.4%
Consumer confidence in India has soared to its highest level since mid-2019
SELL USDINR APR @ 83.35 SL 83.45 TGT 83.25-83.15.
EURINR
Observations
EURINR trading range for the day is 89.94-90.66.
Euro remained as latest ECB accounts revealed policymakers' growing confidence in inflation's trajectory toward its 2% target
ECB left interest rates steady as expected and signalled it is ready to cut the interest rates
Euro zone banks lower bar on mortgages but demand keeps falling
BUY EURINR APR @ 90.2 SL 90 TGT 90.4-90.6.
GBPINR
Observation
GBPINR trading range for the day is 105.14-105.9.
GBP steadied as investors trying to assess the UK economic outlook.
Markets await British gross domestic product figures due on Friday
Data indicating a slowdown in wage growth added to signs of a weakening British job market.
BUY GBPINR APR @ 105.2 SL 104.9 TGT 105.5-105.7.
JPYINR
Observations
JPYINR trading range for the day is 54.8-55.14.
JPY remained in range despite a strong domestic producer inflation report.
Finance Minister Shunichi Suzuki said authorities would not rule out any measures in dealing with excessive yen moves
BOJ expects monetary conditions to stay accommodative, says Governor Ueda
BUY JPYINR APR @ 54.8 SL 54.6 TGT 55-55.2.
