SELL EURINR JUL @ 101.15 SL 101.45 TGT 100.85-100.65 - Kedia Advisory
USDINR
SELL USDINR JUL @ 85.75 SL 85.9 TGT 85.6-85.4.
Observations
USDINR trading range for the day is 85.45-85.99.
Rupee declined ahead of closely watched U.S. economic data, with investors focused on prospects for trade deals ahead of a July 9 deadline.
India's manufacturing sector surged in June, reaching a 14-month high with a PMI of 58.4, fueled by robust output and new orders.
Investors continued to focus on the low inflationary backdrop in India and the dovish response by the RBI.
EURINR
SELL EURINR JUL @ 101.15 SL 101.45 TGT 100.85-100.65.
Observations
EURINR trading range for the day is 100.75-101.53.
Euro dropped as investors assessed comments from European Central Bank policymakers
Eurozone inflation reaching the ECB’s 2% target, reinforcing expectations of continued monetary easing.
Markets continue to price in Federal Reserve rate cuts despite uncertainty over the impact of US President Trump’s tariffs.
GBPINR
SELL GBPINR JUL @ 117.6 SL 117.9 TGT 117.3-117.
Observations
GBPINR trading range for the day is 117.2-118.16.
GBP dropped on profit booking amid BOE’s cautious approach compared to peers like the ECB.
UK inflation remains stubbornly above the BoE’s 2% target, reaching 3.4% in May, well above the euro zone’s 2% in June.
Economic growth remains weak, with the UK economy contracting sharply in April due to global trade tariffs and domestic tax hikes.
JPYINR
SELL JPYINR JUL @ 59.85 SL 60.05 TGT 59.65-59.45.
Observations
JPYINR trading range for the day is 59.16-60.3.
JPY weakened after US President Donald Trump threatened to impose a 35% tariff on Japanese imports.
Data showed a surprise uptick in business sentiment among large manufacturers in the second quarter
Confidence among large Japanese manufacturers improved in the three months to June, a central bank survey showed
