Sell Eurinr Jun @ 98.3 SL 98.6 TGT 98-97.7 - Kedia Advisory
USDINR
SELL USDINR JUN @ 86 SL 86.15 TGT 85.8-85.65.
Observations
USDINR trading range for the day is 85.6-86.18.
Rupee was little changed as corporate dollar bids, including from local oil companies, blunted positive cues.
OECD projects India's economic growth to remain strong and stable, forecasting a GDP growth of 6.3% in FY26
India's services sector experienced robust growth in May, reaching a three-month high
EURINR
SELL EURINR JUN @ 98.3 SL 98.6 TGT 98-97.7.
Observations
EURINR trading range for the day is 97.85-98.53.
Euro steady as fragile sentiment persists after Trump calls China deal "extremely hard."
The ECB cut key interest rates by 25 basis points at its June meeting, including the deposit rate, based on updated inflation and economic forecasts.
Factory orders in Germany rose 0.6% month-over-month in April 2025, defying market expectations of a 1.0% drop.
GBPINR
SELL GBPINR JUN @ 116.7 SL 117 TGT 116.4-116.1.
Observations
GBPINR trading range for the day is 116.16-116.9.
GBP steadies as BoE’s Bailey reaffirms gradual monetary easing approach
The UK was granted temporary relief from 50% US steel and aluminium tariffs.
UK Construction PMI rose to 47.9 in May 2025 from 46.6 in April, indicating the slowest drop in activity since January.
JPYINR
SELL JPYINR JUN @ 60.25 SL 60.5 TGT 60-59.75.
Observations
JPYINR trading range for the day is 59.85-61.05.
JPY gains supported by broad dollar weakness following disappointing US economic data.
BOJ is considering slowing the pace of its bond purchase tapering from next fiscal year to prevent market disruptions
Nominal wages in Japan rose 2.3% year-on-year in April 2025, matching the pace seen in March.
