Buy EURINR Jun @ 89.4 SL 89.2 TGT 89.6-89.8 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.36-83.54.
Rupee ended marginally higher on expectations of foreign inflows into domestic debt that will be included in a global index.
India's current account balance surplus for the first time in 10 quarters in the January-March quarter.
Investors await remarks from Fed policymakers this week for further cues on when the central bank may begin to ease policy rates.
SELL USDINR JUN @ 83.5 SL 83.6 TGT 83.4-83.3.
EURINR
Observation
EURINR trading range for the day is 89.33-89.73.
Euro steadied as investors assessed new economic data and the monetary policy outlook.
Euro zone business recovery slows sharply in June, PMI shows
France's services industry contracted more than expected this month, dragged down by weak demand
BUY EURINR JUN @ 89.4 SL 89.2 TGT 89.6-89.8.
GBPINR
Observations
GBPINR trading range for the day is 105.72-106.06.
GBP gains as investors assessed Britain's monetary policy and political future.
Retail sales in the UK soared 2.9% month-over-month in May 2024.
Public sector net borrowing, in the UK increased to £15.0 billion in May 2024
BUY GBPINR JUN @ 105.6 SL 105.3 TGT 105.9-106.
JPYINR
Observations
JPYINR trading range for the day is 51.93-52.63.
JPY depreciated as Bank of Japan officials remained divided on how to proceed with the next interest rate hike.
Japan to respond appropriately to excessive yen volatility, official says
The au Jibun Bank Japan Services PMI slipped to 49.8 in June 2024 from a final 53.8 in April.
BUY JPYINR JUN @ 52.2 SL 52 TGT 52.4-52.6.
