SELL EURINR JUN @ 98 SL 98.2 TGT 97.7-97.5. - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.6 SL 85.75 TGT 85.45-85.35.
Observations
USDINR trading range for the day is 85.29-85.81.
Rupee strengthened as India's economy grew by 7.4% YoY in the first quarter of 2025, up from 6.2% the previous quarter
India’s foreign exchange reserves stood at about $693 billion, down from the all-time high of $705 billion reached in September 2024.
Net Foreign Direct Investment (FDI) into India declined to $0.35 billion in 2024-25, the lowest level in two decades
EURINR
SELL EURINR JUN @ 98 SL 98.2 TGT 97.7-97.5.
Observations
EURINR trading range for the day is 97.05-98.27.
Euro gained as investors pulled back from US assets amid growing trade policy uncertainty.
The HCOB Spain Manufacturing PMI climbed to 50.5 in May 2025 from 48.1 in April.
The HCOB Germany Manufacturing PMI was revised down to 48.3 in May 2025, from a April’s 48.4.
GBPINR
SELL GBPINR JUN @ 115.9 SL 116.2 TGT 115.6-115.3.
Observations
GBPINR trading range for the day is 115.15-116.15.
GBP rises as BoE seen pausing rate cuts at June 18 meet, delaying easing moves.
The UK Nationwide House Price Index rose by 3.5% year-on-year in May 2025, following a 3.4% increase in April.
Fed rate cut bets and US fiscal concerns weigh on the USD amid trade-related uncertainties.
JPYINR
SELL JPYINR JUN @ 60 SL 60.2 TGT 59.7-59.5.
Observations
JPYINR trading range for the day is 59.46-60.34.
JPY strengthened as renewed global trade concerns fueled demand for safe-haven assets.
The au Jibun Bank Japan Manufacturing PMI was revised higher to 49.4 in May 2025.
Japan reported stronger-than-expected capital expenditure growth in Q1, driven by both manufacturing and non-manufacturing sectors.
