Sell USDINR Apr @ 83.35 SL 83.45 TGT 83.25-83.15 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
USDINR
Observations
USDINR trading range for the day is 83.35-83.49.
Rupee remained in range following intervention from RBI and the ebbing of concerns Middle East conflict.
The headline and core PCE price indexes in the US rose by 0.3% mom in March, the same as in February
A hotter-than-expected US inflation print for the January-March quarter bolstered expectations that the Fed will keep policy rates elevated.
SELL USDINR MAY @ 83.5 SL 83.6 TGT 83.4-83.3.
EURINR
Observations
EURINR trading range for the day is 89.18-89.64.
Euro steadied as ECB policymakers hinted at a willingness to initiate a reduction in borrowing costs as soon as June
BoE Governor Andrew Bailey expects a sharp drop in April’s inflation.
Bank of England officials suggested the central bank was becoming more confident that UK inflation is subsiding
BUY EURINR MAY @ 89.4 SL 89.2 TGT 89.6-89.8
GBPINR
Observation
GBPINR trading range for the day is 104.01-104.75.
GBP gains as recent survey data has shown an improved economic outlook for UK
BoE policymakers have remained worried about high service inflation.
UK annual service inflation is at 6%, higher than what is required to be consistent for bringing down inflation to the 2% target.
BUY GBPINR MAY @ 104.3 SL 104.1 TGT 104.5-104.8.
JPYINR
Observations
JPYINR trading range for the day is 52.86-54.64
JPY weakened as the Bank of Japan held interest rates steady
The central bank dropped wording on buying the same amount of bonds as before
Markets continued to watch for signals from Japanese authorities on whether they would intervene in the currency markets again
SELL JPYINR MAY @ 53.6 SL 53.8 TGT 53.4-53.2.
