BUY EURINR AUG @ 101.6 SL 101.3 TGT 101.9-102.2 - Kedia Advisory
USDINR
BUY USDINR AUG @ 87.8 SL 87.65 TGT 87.95-88.05.
Observations
USDINR trading range for the day is 87.75-88.05.
Rupee near to an all-time low after U.S. President Trump threatened steeper tariffs on Indian goods, worsening fragile sentiment.
The HSBC India Services PMI was revised higher to 60.5 in July 2025, up from the preliminary estimate of 59.8.
The HSBC India Composite PMI was at 61.0 in July 2025, surpassing the flash estimate of 60.7 and edging higher from 61.0 in the previous month.
EURINR
BUY EURINR AUG @ 101.6 SL 101.3 TGT 101.9-102.2.
Observations
EURINR trading range for the day is 101.35-101.93.
Euro steadied amid diverging monetary policy outlooks between the Federal Reserve and the European Central Bank.
EU will suspend two planned tariff countermeasure packages for six months after reaching an agreement with U.S. Trump.
Money markets are pricing in a roughly 60% probability of an ECB rate cut by the end of the year, rising to 80% by March 2026.
GBPINR
BUY GBPINR AUG @ 116.6 SL 116.3 TGT 116.9-117.2.
Observations
GBPINR trading range for the day is 116.54-117.
GBP settled flat amid concerns over the UK’s economic outlook and fiscal health.
UK Manufacturing PMI rose to 48 in July of 2025 from 47.7 in June, revised lower from the flash estimate of 48.2.
The UK Nationwide House Price Index rose 2.4% year-on-year in July 2025, above expectations and June’s 2.1% rise.
JPYINR
BUY JPYINR AUG @ 59.5 SL 59.3 TGT 59.7-59.9.
Observations
JPYINR trading range for the day is 59.3-60.14.
JPY gains after BOJ minutes indicated policymakers remain open to further rate hikes if trade tensions subside.
Japan Services PMI rose to 53.6 in July 2025, slightly above the flash estimate of 53.5 and up from 51.7 in the previous month.
Japan Composite PMI came in at 51.6 in July 2025, slightly above both the flash estimate and June’s reading of 51.5.
