SELL EURINR JUN @ 98.2 SL 98.4 TGT 98-97.8 - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.85 SL 85.95 TGT 85.75-85.65.
Observations
USDINR trading range for the day is 85.45-86.23.
Rupee strengthened after the RBI’s steepest rate cut in five years boosted
RBI unexpectedly lowered its key repo rate by 50 basis points to 5.50% at its May meeting
The RBI maintained its GDP growth forecast for FY2025/26 at 6.5%.
EURINR
SELL EURINR JUN @ 98.2 SL 98.4 TGT 98-97.8.
Observations
EURINR trading range for the day is 97.7-98.68.
Euro dips after ECB rate cut, Lagarde signals nearing end of easing cycle.
Sentiment remained cautious following a phone call between Trump and Xi Jinping, agreed to resume trade negotiations.
ECB cut rates by 25 bps and downgraded its inflation outlook for 2025 and 2026, reinforcing the case for a more accommodative stance
GBPINR
SELL GBPINR JUN @ 116.3 SL 116.6 TGT 116-115.7.
Observations
GBPINR trading range for the day is 115.67-116.99.
GBP dropped as dollar seen supported after US President Trump expressed confidence over the Sino-US trade talks.
The number of UK firms worried about US tariffs declined sharply following the UK-US trade agreement.
The Halifax House Price Index in the UK increased 2.5% yoy in May 2025, the smallest gain in ten months.
JPYINR
SELL JPYINR JUN @ 59.8 SL 60 TGT 59.6-59.4.
Observations
JPYINR trading range for the day is 59.53-60.33.
JPY dropped as traders adopted a cautious stance ahead of the closely watched US monthly jobs report.
Japan’s foreign reserves fell slightly by $110 million to $1.298 trillion in May 2025, remaining close to the highest level since mid-2022.
Household spending in Japan fell by 0.1% year-over-year in April 2025, reversing the 2.1% increase recorded in March.
