Buy USDINR Aug @ 87.5 SL 87.35 TGT 87.65-87.8. - Kedia Advisory
USDINR
BUY USDINR AUG @ 87.5 SL 87.35 TGT 87.65-87.8.
Observations
USDINR trading range for the day is 87.23-87.79.
Rupee gave up early gains to end lower as concerns over steep tariffs on Indian goods spurred dollar demand, with importer bids adding pressure.
Starting Wednesday, US tariffs on Indian goods will rise to as much as 50%, adding to the existing 25% duties, in response to India’s imports of Russian oil.
Chair Powell suggested at the Jackson Hole symposium that a rate cut at the September meeting is possible.
EURINR
SELL EURINR AUG @ 102.5 SL 102.8 TGT 102.3-102.
Observations
EURINR trading range for the day is 101.69-103.09.
Euro gains as markets assessed fresh data and new developments on trade with the US.
The Ifo Business Climate indicator for Germany rose to 89 in August from 88.6 in July, the highest since May 2024.
PMI data showed that Eurozone economic activity rose the most in 15 months, strengthening the case for less rate cuts by the ECB.
GBPINR
SELL GBPINR AUG @ 118.3 SL 118.6 TGT 118-117.7.
Observations
GBPINR trading range for the day is 117.78-118.66.
GBP gained after a survey showed UK businesses experiencing their strongest month in a year, driven by a rebound in the services sector.
The S&P Global UK Manufacturing PMI slipped to 47.3 in August 2025 from 48 in July, below expectations of 48.3.
Money markets now see less than a 50% chance of a rate cut before end-2025, with only about a 36% probability of a quarter-point reduction this year.
JPYINR
SELL JPYINR AUG @ 59.6 SL 59.9 TGT 59.3-59.
Observations
JPYINR trading range for the day is 58.9-59.78.
JPY gained after Bank of Japan Governor Kazuo Ueda signaled that conditions for another rate hike are taking shape.
Japan’s leading economic index was revised lower to 105.6 in June 2025, down from the preliminary estimate of 106.1.
Japan’s index of coincident economic indicators stood at 116.7 in June 2025, a bit below the flash estimate but above 116.0 in the previous month.
