SELL USDINR JUN @ 85.7 SL 85.85 TGT 85.55-85.4 - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.7 SL 85.85 TGT 85.55-85.4.
Observations
USDINR trading range for the day is 85.2-86.02.
Rupee slips ~1% in May on U.S. trade policy woes, Asia FX gains, India-Pak tensions.
The Indian GDP expanded 7.4% from the previous year in the March quarter of 2025
The Index of Industrial Production (IIP) had expanded 3.9% in the previous month and 5.2% in April 2024.
EURINR
SELL EURINR JUN @ 97 SL 97.3 TGT 96.7-96.5.
Observations
EURINR trading range for the day is 96.88-97.48.
Euro gains as Eurozone household lending up 1.9% YoY in Apr to €6.99T, fastest since May 2023.
Retail sales in Germany fell by 1.1% month-over-month in April 2025, following an upwardly revised 0.9% increase in March.
Market sentiment remained fragile after a US appeals court reinstated President Donald Trump’s reciprocal tariffs.
GBPINR
SELL GBPINR JUN @ 115.4 SL 115.7 TGT 115.1-114.9.
Observations
GBPINR trading range for the day is 114.83-115.93.
GBP steadied as investors assessed growth and trade developments.
UK Business Secretary Jonathan Reynolds aims to speed up a trade deal with the US, with tariff cuts on UK goods still awaiting Trump’s sign-off.
UK government proposed new rules requiring pension funds to invest more in private markets and local projects, targeting £27.5 billion in new investments.
JPYINR
SELL JPYINR JUN @ 59.7 SL 59.9 TGT 59.5-59.3.
Observations
JPYINR trading range for the day is 59.52-59.92.
JPY appreciated after Tokyo’s core inflation came in stronger than expected.
Japan’s industrial production fell by 0.9% month-over-month in April 2025, reversing a 0.2% gain in March.
Retail sales in Japan grew by 3.3% year-on-year in April 2025, up from a 3.1% gain in the previous month.
