BUY USDINR JUL @ 95.8 SL 95.6 TGT 96-96.2 - Kedia Advisory
USDINR
BUY USDINR JUL @ 95.8 SL 95.6 TGT 96-96.2.
Observations
USDINR trading range for the day is 94.69-96.43.
Rupee strengthened to close at its strongest level in two weeks as a sharp retreat in oil prices and likely central bank intervention.
India's economic growth is expected to slow sharply this fiscal year from last year's robust expansion and recover only modestly the following year
The RBI is expected to keep interest rates unchanged at its August policy meeting as policymakers assess the inflationary impact of higher energy prices.
EURINR
BUY EURINR JUL @ 108.8 SL 108.5 TGT 109.1-109.4.
Observations
EURINR trading range for the day is 108.61-109.27.
Euro dropped as dollar held at a one-month high on lingering chances of Fed hike
Lending growth to euro zone firms and households remained unchanged last month, continuing its steady.
Euro zone consumer confidence rose by 1.7 points in July from the June number.
GBPINR
SELL GBPINR JUL @ 128.6 SL 128.9 TGT 128.3-128.
Observations
GBPINR trading range for the day is 127.89-129.55.
GBP dropped amid Rupee firmness as a sharp drop in oil prices eased worries about energy-driven inflation
UK shop price inflation rose by 0.9% year-on-year in July 2026, falling short of market expectations for a 1.2% gain and marking the slowest increase since December 2025.
The CBI retail sales balance improved to -26 in July 2026 from -54 in June, well above market expectations of -45, signaling the smallest decline in UK retail sales in six months.
JPYINR
SELL JPYINR JUL @ 58.8 SL 59 TGT 58.6-58.4.
Observations
JPYINR trading range for the day is 58.8-58.8.
JPY remained steady as the dollar remained firm on speculation that the Federal Reserve could raise interest rates as soon as this week.
Japan is experiencing inflation now but is not at the point where the risks of a return to deflation have been eliminated, Prime Minister Sanae Takaichi said.
The Bank of Japan is widely expected to leave its policy rate unchanged while keeping the door open to additional rate hikes to help curb the currency’s decline.
