SELL USDINR MAY @ 84.75 SL 84.9 TGT 84.6-84.5. - Kedia Advisory
USDINR
SELL USDINR MAY @ 84.75 SL 84.9 TGT 84.6-84.5.
Observations
USDINR trading range for the day is 84.15-85.67.
Rupee gained on the back of inflows into equities and as exporters ramped up dollar sales.
Indian inflation rate fell to its lowest in over five years in March, well below the RBI's mid-point target of 4%.
The Fed is expected to leave interest rates unchanged in the range of 4.25%-4.50% in the policy meeting on May 6-7
EURINR
SELL EURINR MAY @ 96.4 SL 96.6 TGT 96.1-95.9.
Observations
EURINR trading range for the day is 95.56-97.64.
Euro dropped as euro zone business growth has stalled.
The French economy grew by 0.1% QoQ in Q1 of 2025, reversing a 0.1% contraction in Q4
Germany’s import prices increased 2.1% year-on-year in March 2025, slowing from a 3.6% rise in February.
GBPINR
SELL GBPINR MAY @ 113.3 SL 113.6 TGT 113-112.8.
Observations
GBPINR trading range for the day is 112.49-114.67.
GBP dropped as the US Dollar strengthens on renewed optimism surrounding US-China trade developments.
GBP faces pressure amid rising expectations that the BoE will cut interest rates at its May policy meeting.
The UK Nationwide House Price Index rose by 3.4% year-on-year in April 2025
JPYINR
SELL JPYINR MAY @ 59.35 SL 59.55 TGT 59.05-58.8.
Observations
JPYINR trading range for the day is 58.81-60.15.
JPY weakens on soft economic data ahead of BOJ decision
Retail sales in Japan increased by 3.1% year-on-year in March 2025
Japan's index of coincident economic indicators, increased to 117.3 in February 2025.
