SELL USDINR APR @ 94.2 SL 94.4 TGT 94-93.8 - Kedia Advisory
USDINR
SELL USDINR APR @ 94.2 SL 94.4 TGT 94-93.8.
Observations
USDINR trading range for the day is 93.8-94.32.
Rupee fell for the fourth consecutive session, as stalled peace talks between the U.S. and Iran lifted oil prices over $100 per barrel.
India Manufacturing PMI rose to 55.9 in April 2026 from 53.9 in March, signalling a stronger improvement in factory conditions.
India Services PMI increased to 57.9 in April 2026 from March’s 13-month low of 57.5, signaling continued solid expansion in the services sector.
EURINR
SELL EURINR APR @ 110.3 SL 110.6 TGT 110-109.7.
Observations
EURINR trading range for the day is 109.83-110.37.
Euro dropped as tensions flared again in the Strait of Hormuz and diplomatic progress remained elusive.
Global Germany Manufacturing PMI fell to 51.2 in April 2026 from 52.2 in the prior month, almost in line with market expectations of 51.3.
Euro Area consumer confidence slipped by 4.3 points from a month earlier to -20.6 in April 2026, the lowest since December 2022.
GBPINR
SELL GBPINR APR @ 127 SL 127.3 TGT 126.7-126.4.
Observations
GBPINR trading range for the day is 126.62-127.3.
GBP remained in range reflecting market unease as tensions between the US and Iran persist.
Britain's budget deficit for the last financial year narrowed to a six-year low
UK public sector net borrowing narrowed to £12.6 billion in March 2026 from £14.0 billion in the same month last year.
JPYINR
SELL JPYINR APR @ 59.2 SL 59.4 TGT 59-58.8.
Observations
JPYINR trading range for the day is 59.07-59.11.
JPY steadied amid a lack of progress in peace efforts between the US and Iran amid BOJ’s policy outlook meeting next week.
Japan Manufacturing PMI increased to 54.9 in April 2026 from March’s 51.6, surpassing market forecasts of 51.2, preliminary estimates showed.
Japan’s S&P Global Services PMI slipped to 51.2 in April 2026 from a final 53.4 in the previous month, a preliminary reading showed.
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