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USDINR

Observations

USDINR trading range for the day is 81.84-82.16

Rupee gained helped by a rally in the Chinese yuan

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week

Recent data from the U.S. has cemented bets that this could be the Fed's last rate hike in the current cycle.

BUY USDINR Jul 2023 @ 81.92 SL 81.78 TGT 82.08-82.2

EURINR

Observations

EURINR trading range for the day is 91.53-92.27

Euro dropped after dovish comments from some ECB officials.

Eurozone current account deficit narrows in May

Germany producer inflation lowest since 2020

SELL EURINR Jul 2023 @ 91.8 SL 92 TGT 91.6-91.4

GBPINR

Observations

GBPINR trading range for the day is 105.24-106.48

GBP weakened after a lower-than-expected CPI reading.

The inflation rate eased to 7.9% in June, marking the lowest level since March 2022

Investors have recently been shifting away from the dollar due to signs of cooling inflation in the US

SELL GBPINR Jul 2023 @ 106.1 SL 106.35 TGT 105.8-105.6

JPYINR

Observations

JPYINR trading range for the day is 58.63-59.13

JPY weakened as BoJ Ueda reiterated his commitment to maintaining an ultra-loose monetary policy.

Japan exports underwhelm in June, global weakness drags on economy

Japan's govt cuts growth forecast, sees inflation exceeding BOJ target

SELL JPYINR Jul 2023 @ 58.85 SL 59.08 TGT 58.6-58.4

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