SELL EURINR JUL @ 100.5 SL 100.75 TGT 100.2-100. - Kedia Advisory
USDINR
BUY USDINR JUL @ 85.75 SL 85.6 TGT 85.9-86.
Observations
USDINR trading range for the day is 85.7-86.04.
Rupee nursed modest losses as likely foreign portfolio outflows added to pressure from rolling tariff threats from the White House.
India's foreign exchange reserves experienced a decline of $3.04 billion, reaching $699.74 billion.
India's services sector experienced robust growth in June, reaching a 10-month high with a PMI of 60.4
EURINR
SELL EURINR JUL @ 100.5 SL 100.75 TGT 100.2-100.
Observations
EURINR trading range for the day is 100.13-100.69.
Euro dropped amid Trump's threat of higher blanket tariffs, strong US data.
Wholesale prices in Germany rose by 0.9% year-on-year in June 2025, accelerating sharply from a 0.4% gain in the previous month.
The ECB is widely expected to keep interest rates unchanged this month, but markets still anticipate at least one more reduction later this year.
GBPINR
SELL GBPINR JUL @ 116.3 SL 116.6 TGT 116-115.8.
Observations
GBPINR trading range for the day is 115.97-116.81.
GBP dropped after the UK economy contracted for the second straight month.
The British economy contracted 0.1% month-over-month in May 2025, following a 0.3% fall in April.
Manufacturing production in the UK dropped by 1% month-over-month in May 2025, worse than market expectations of a 0.1% fall.
JPYINR
SELL JPYINR JUL @ 59.1 SL 59.3 TGT 58.9-58.7.
Observations
JPYINR trading range for the day is 59-59.
JPY dropped as the greenback gained strength amid rising global trade tensions.
The Bank of Japan said that the impact of U.S. tariffs on Japan’s exports and factory output has been limited so far.
Japanese Prime Minister stressed the need to reduce the country's reliance on the US in strategic areas such as defense, food security, and energy.
