SELL USDINR FEB @ 91 SL 91.2 TGT 90.8-90.6 - Kedia Advisory
USDINR
SELL USDINR FEB @ 91 SL 91.2 TGT 90.8-90.6.
Observations
USDINR trading range for the day is 90.59-91.07.
Rupee edges up as local factors eat into US tariff ruling-driven gains India's GDP growth is expected to slow to 7.2 percent in the third quarter of fiscal year 2025-26 – ICRA India's core sector growth slowed to 4% in January.
Energy industries saw moderated momentum.
EURINR
SELL EURINR FEB @ 107.3 SL 107.6 TGT 107-106.8.
Observations
EURINR trading range for the day is 107.07-107.55. Euro gains as US dollar weakened following the US Supreme Court decision overturning President Donald Trump’s broad emergency tariffs.
ECB President Christine Lagarde’s, confirming she intends to complete her term and dismissing earlier speculation about an early departure.
European Parliament’s trade chief said he would propose suspending the ratification process of a trade agreement with the US until greater clarity emerges on Trump’s trade agenda.
GBPINR
SELL GBPINR FEB @ 123 SL 123.3 TGT 122.7-122.5.
Observations
GBPINR trading range for the day is 122.42-123.16.
GBP recovered as the US dollar eased following the US Supreme Court ruling overturning President Donald Trump’s broad emergency tariffs.
The latest S&P Global UK PMI showed private-sector activity expanded in February at its fastest pace since April 2024.
Retail sales surprised to the upside in January, rising 1.8% month-on-month including fuel and 2% excluding fuel.
JPYINR
SELL JPYINR FEB @ 59 SL 59.2 TGT 58.8-58.6.
Observations
JPYINR trading range for the day is 58.62-59.06.
JPY gains after fresh tariff threats from US President Donald Trump undermined confidence in the greenback.
Trump announced a 15% global levy after the US Supreme Court rejected his sweeping reciprocal tariffs.
Prime Minister Sanae Takaichi moved to calm markets after her expansionary spending agenda unsettled investors.
