SELL USDINR APR @ 93.7 SL 93.9 TGT 93.4-93.2. - Kedia Advisory
USDINR
SELL USDINR APR @ 93.7 SL 93.9 TGT 93.4-93.2.
Observations
USDINR trading range for the day is 92.36-95.26.
Rupee jumps to 92.85 after RBI curbs speculative trades, bond yields steady
India’s fiscal deficit narrowed to INR 12.5 trillion in April–February 2025–26, down from INR 13.5 trillion a year earlier.
India’s industrial production growth accelerated to 5.2% year-over-year in February 2026, up from a revised 5.1% in January.
EURINR
SELL EURINR APR @ 109.1 SL 109.4 TGT 108.7-108.4.
Observations
EURINR trading range for the day is 108.02-110.02.
Euro dropped after President Donald Trump indicated that the Iran conflict would continue.
Germany’s inflation rate climbed to 2.7% year-over-year in March 2026, up from 1.9% in February and matching market forecasts.
Eurozone Manufacturing PMI rose to 51.6 in March 2026, up from both the preliminary estimate of 51.4 and February’s 50.8.
GBPINR
SELL GBPINR APR @ 124.7 SL 125 TGT 124.2-123.8.
Observations
GBPINR trading range for the day is 123.35-126.67.
GBP slipped as investor caution resurfaced after President Trump’s prime-time address provided no clear end in sight for the Middle East conflict.
BoE Governor Andrew Bailey told that financial markets had been too aggressive in pricing in higher borrowing costs.
J.P. Morgan said it now expected only one Bank of England interest rate hike this year.
JPYINR
SELL JPYINR APR @ 59.3 SL 59.5 TGT 59-58.6.
Observations
JPYINR trading range for the day is 58.95-59.91.
JPY slipped as mixed signals from US President Trump over the potential de-escalation of the Middle East conflict supported the greenback.
The Bank of Japan’s sentiment index for large manufacturers edged up to 17 in Q1 2026, marking the highest level since Q4 2021.
The S&P Global Japan Manufacturing PMI was revised higher to 51.6 in March 2026 from a preliminary estimate of 51.4.
