SELL USDINR APR @ 93.6 SL 93.8 TGT 93.3-93.1. - Kedia Advisory
USDINR
SELL USDINR APR @ 93.6 SL 93.8 TGT 93.3-93.1.
Observations
USDINR trading range for the day is 93.08-93.96.
Rupee slipped, retreating from recent gains to reach a three-week low as pressure returned from rising global oil prices and weakening risk sentiment.
The Asian Development Bank (ADB) raised India’s GDP growth forecast to 6.9% for FY2026–27 from its previous estimate of 6.5%.
Financial conditions tightened for emerging markets as the US dollar strengthened, Treasury yields rose, and global equities weakened.
EURINR
BUY EURINR APR @ 109.4 SL 109.1 TGT 109.7-110.
Observations
EURINR trading range for the day is 108.84-110.04.
Euro climbed as investors grew optimistic about the potential for Middle East peace negotiations.
US President Donald Trump threatened a naval blockade of the Strait of Hormuz and suggested limited military strikes against Iran, despite an existing ceasefire.
The strategic waterway’s significance sent oil prices skyrocketing, and led markets to anticipate a more aggressive stance from the ECB.
GBPINR
BUY GBPINR APR @ 125.7 SL 125.4 TGT 126-126.3.
Observations
GBPINR trading range for the day is 124.95-126.13.
GBP gains as investors positioned for potential Middle East peace negotiations, despite the US maintaining its blockade on Iranian ports.
The spike in oil prices has deepened a global energy crisis, raising fears of an inflation shock and prompting markets to brace for a more hawkish BOE.
Bank of England's Bailey says markets still ahead of themselves in pricing rate hikes
JPYINR
SELL JPYINR APR @ 59.5 SL 59.75 TGT 59.2-59.
Observations
JPYINR trading range for the day is 59.08-59.68.
JPY strengthened as both the dollar and oil prices retreated on rising expectations that a US-Iran agreement could eventually be reached.
Bank of Japan monetary policy could be an option to tame rising prices by boosting the yen, Japan's trade minister said.
Economy Minister Ryosei Akazawa noted that BOJ monetary policy could be used as a tool to curb inflation by supporting a stronger yen.
