Buy USDINR Jul @ 96.3 SL 96.1 TGT 96.5-96.7 - Kedia Advisory
USDINR
BUY USDINR JUL @ 96.3 SL 96.1 TGT 96.5-96.7.
Observations
USDINR trading range for the day is 96.31-96.69.
Rupee declined to its weakest level in two months as oil prices continued to press higher.
Indian economy expanded 7.7% in the last financial year, and the RBI has projected GDP growth of 6.6% for the current fiscal year.
India's foreign exchange reserves increased by $964 million to $675.16 billion.
EURINR
SELL EURINR JUL @ 110.5 SL 110.8 TGT 110.2-109.9.
Observations
EURINR trading range for the day is 109.95-110.83.
Euro steadied as investors weighed escalating tensions in the Middle East and a sharp rise in oil prices.
German producer prices rose less than expected in June, rising by 1.8% on the year.
Markets continue to price in two further ECB rate hikes by early 2027, with the first potentially coming as soon as September.
GBPINR
SELL GBPINR JUL @ 130 SL 130.3 TGT 129.7-129.4.
Observations
GBPINR trading range for the day is 129.71-130.51.
GBP gains as Andy Burnham prepares to take office as Prime Minister.
Meanwhile, escalating tensions in the Middle East have pushed oil prices above $90 a barrel, adding to inflationary risks.
Industrial production in the UK fell 0.5% month-on-month in May 2026, worse than market expectations of a 0.1% drop
JPYINR
SELL JPYINR JUL @ 59.5 SL 59.7 TGT 59.3-59.1.
Observations
JPYINR trading range for the day is 59.5-59.5.
JPY steadied as a stronger dollar and surging oil prices, driven by the escalating conflict in the Middle East, continued to weigh.
Japan’s core machinery orders, plunged 12.4% mom to JPY 962.0 billion in May 2026
Japan’s industrial production edged up 0.1% month-over-month in May 2026, easing from April’s 0.5% increase
.jpg)
