Buy USDINR Jul @ 96.2 SL 96 TGT 96.4-96.6 - Kedia Advisory
USDINR
BUY USDINR JUL @ 96.2 SL 96 TGT 96.4-96.6.
Observations
USDINR trading range for the day is 96.26-96.58.
Rupee settled flat after reaching eight-week lows as sentiment weakened on rising crude oil prices.
Meanwhile, the positive sentiment from the Reserve Bank of India's recent measures to attract dollar inflows has largely faded.
Additional pressure came from more than $14 billion in overseas investment announcements by Indian companies early in the fiscal year.
EURINR
SELL EURINR JUL @ 110.7 SL 111 TGT 110.4-110.1.
Observations
EURINR trading range for the day is 110.39-110.85.
Euro rose as softer-than-expected US inflation data weighed on the dollar while investors increased bets on further ECB policy tightening.
Eurozone industrial production declined 0.2% month-over-month in May 2026, ending three consecutive months of growth.
Markets fully price in a September hike, with another increase expected by spring 2027.
GBPINR
SELL GBPINR JUL @ 130.3 SL 130.6 TGT 130-129.7.
Observations
GBPINR trading range for the day is 129.59-130.93.
GBP gains as fresh data showing the UK economy returned to growth in May
UK economy expanded by 0.1% month-on-month in May 2026, and rebounding from a 0.1% contraction in April.
UK’s trade deficit narrowed to £1.04 billion in May 2026, down from a downwardly revised £7.05 billion in the previous month.
JPYINR
SELL JPYINR JUL @ 59.5 SL 59.7 TGT 59.3-59.1.
Observations
JPYINR trading range for the day is 19.83-19.83.
JPY steadied amid a weaker dollar after softer-than-expected US inflation data.
Data showed machinery orders declined more than expected in May, highlighting broad-based weakness in business investment.
Finance Minister Satsuki Katayama said the country’s massive pension fund would adjust its holdings if necessary
