BUY USDINR JUL @ 85.7 SL 85.55 TGT 85.85-85.95 - Kedia Advisory
USDINR
BUY USDINR JUL @ 85.7 SL 85.55 TGT 85.85-85.95.
Observations
USDINR trading range for the day is 85.61-85.95.
Rupee gains amid softness in energy prices and bullish momentum for the Indian economy.
Strong indicators for the Indian economy maintained bets of strong growth domestically, with June's PMI coming at 61.
The RBI still being able to build foreign exchange reserves, with the latest reading surpassing $700 billion, the highest om 10 months.
EURINR
SELL EURINR JUL @ 100.8 SL 101.1 TGT 100.5-100.2.
Observations
EURINR trading range for the day is 100.52-101.1.
Euro dropped as investors digested the latest trade developments out of the US. President announced updated tariff rates on 14 countries.
EU said it is making progress toward a trade agreement with the US, aiming to prevent a major tariff escalation through a preliminary deal
Germany's trade surplus widened to EUR 18.4 billion in May 2025, up from an upwardly revised EUR 15.7 billion in April.
GBPINR
SELL GBPINR JUL @ 116.8 SL 117.1 TGT 116.5-116.2.
Observations
GBPINR trading range for the day is 116.23-117.29.
GBP dropped amid growing concerns over the UK’s fiscal outlook.
Chancellor Rachel Reeves hinted at possible autumn tax hikes to plug UK public finance gap.
Bank of England expected to cut interest rates by 25 basis points at September meeting.
JPYINR
SELL JPYINR JUL @ 59.4 SL 59.6 TGT 59.1-58.9.
Observations
JPYINR trading range for the day is 59.12-59.7.
JPY weakened after US President Donald Trump announced a 25% tariff on Japanese goods, set to take effect on August 1.
Japan’s current account surplus rose to JPY 3,436.4 billion in May 2025 from JPY 2,949.5 billion a year earlier
Bank lending in Japan rose by 2.8% year-on-year in June 2025, up from a 2.4% increase in May
