SELL EURINR AUG @ 102.7 SL 103 TGT 102.4-102.1 - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.7 SL 87.85 TGT 87.55-87.4.
Observations
USDINR trading range for the day is 87.29-87.87.
Rupee dropped as India's merchandise trade deficit widened sharply in July
S&P Global upgraded India's long-term credit rating to "BBB" from "BBB-", citing economic resilience and sustained fiscal consolidation.
India’s wholesale prices unexpectedly dropped by 0.58% year-on-year in July 2025, steeper than market forecasts of a 0.30% decline.
EURINR
SELL EURINR AUG @ 102.7 SL 103 TGT 102.4-102.1.
Observations
EURINR trading range for the day is 102.05-102.77.
Euro dropped as Euro zone industrial output dipped more than expected in June.
The Eurozone economy grew 0.1% quarter-on-quarter in Q2 2025, its weakest performance since Q4 2023.
Euro Area industrial production fell by 1.3% month-over-month in June 2025, reversing from a 1.1% rise in May.
GBPINR
SELL GBPINR AUG @ 119 SL 119.3 TGT 118.7-118.5.
Observations
GBPINR trading range for the day is 118.51-119.37.
GBP gains as investors grew increasingly convinced that U.S. interest rates are likely to fall more quickly than British ones.
The British economy grew 1.2% year-on-year in Q2 2025, easing slightly from 1.3% in Q1 but beating forecasts of 1%.
The UK Residential Market Survey from RICS showed the house price balance declined to -13% in July 2025.
JPYINR
SELL JPYINR AUG @ 59.9 SL 60.1 TGT 59.7-59.5.
Observations
JPYINR trading range for the day is 59.54-60.2.
JPY gains as growing expectations for Federal Reserve rate cuts this year weighed on the greenback.
Bank of Japan faces pressure to abandon an inflation measure tied to domestic demand and wage growth that has limited further tightening.
Governor Kazuo Ueda has defended a cautious approach, noting that “underlying inflation” remains below the BOJ’s 2% target.
