Buy USDINR Jul @ 96.4 SL 96.2 TGT 96.6-96.8 - Kedia Advisory
USDINR
BUY USDINR JUL @ 96.4 SL 96.2 TGT 96.6-96.8.
Observations
USDINR trading range for the day is 96.19-96.83.
Rupee weakened as oil prices climbed to a more than one-month high on mounting fears of supply disruptions in the Middle East.
Oil prices, weak monsoon pose biggest risks to India's FY27 GDP growth, says IMF
India's debt-to-GDP ratio moderated to 58.2 percent in FY26, showing improved fiscal health.
EURINR
SELL EURINR JUL @ 110.3 SL 110.6 TGT 110-109.7.
Observations
EURINR trading range for the day is 109.75-110.51.
Euro steadied as investor sentiment remained resilient despite heightened uncertainty in the Middle East, which kept oil prices elevated and inflation.
Euro zone banks tightened access to credit in the second quarter over geopolitical instability fears.
Investors now see the ECB raising rates at least once more in September and attach a roughly 72% chance of a second hike before the end of the year
GBPINR
SELL GBPINR JUL @ 130 SL 130.3 TGT 129.7-129.4.
Observations
GBPINR trading range for the day is 129.21-130.21.
GBP dropped as escalating fighting in the Middle East underpinned safe-haven demand for the greenback
The annual inflation rate in the UK eased to 2.6% in June 2026 from 2.8% in May, slowing more than the expected decline to 2.7%.
Factory gate prices for UK-manufactured goods increased 3.5% year-on-year in June 2026, easing from a downwardly revised 3.7% growth in May.
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 dropped as escalating tensions in the Middle East drove oil prices higher, pressuring Japan’s economy which relies heavily on oil imports from the region.
Japan's exports surged 19.3% year-on-year to a three-month high of JPY 10,929.0 billion in June 2026
Japan's imports surged 25.4% year-on-year to a record JPY 11,335.9 billion in June 2026, significantly accelerating from May's 12.5% increase.
