Sell EURINR Sep @ 103.8 SL 104.1 TGT 103.5-103.2 - Kedia Advisory
USDINR
SELL USDINR SEP @ 88.4 SL 88.55 TGT 88.25-88.15.
Observations
USDINR trading range for the day is 87.8-88.54.
Rupee ended marginally higher as importer demand for the greenback wiped out recovery witnessed earlier in the session.
India's current account logged a deficit in the April-June quarter on the back of a higher merchandise trade shortfall.
India's manufacturing sector experienced a significant surge in August, reaching a 17.5-year high with a PMI of 59.3.
EURINR
SELL EURINR SEP @ 103.8 SL 104.1 TGT 103.5-103.2.
Observations
EURINR trading range for the day is 102.36-103.76.
Euro slipped as traders awaited a busy week of economic data that could shape monetary policy decisions from both the ECB and Fed.
In the euro area, flash inflation data for August is expected to show price growth holding at the central bank’s 2% target for a third consecutive month.
Meanwhile, political uncertainty in France continued to weigh on sentiment, with markets bracing for a confidence vote set for September 8.
GBPINR
SELL GBPINR SEP @ 119.6 SL 119.9 TGT 119.3-119.
Observations
GBPINR trading range for the day is 117.32-119.96.
GBP fell amid a sharp rise in long-dated UK government bond yields due to concerns over the country’s fiscal outlook.
The S&P Global UK Manufacturing PMI fell to 47 in August of 2025 from 48 in the previous month, revised lower from the preliminary estimate of 47.3
The BoE is unlikely to cut interest rates in the monetary policy meeting this month.
JPYINR
SELL JPYINR SEP @ 60.1 SL 60.4 TGT 59.8-59.6.
Observations
JPYINR trading range for the day is 59.31-59.97.
JPY slipped as traders awaited wage data due this week that could guide domestic monetary policy.
Governor Ueda signaled that wages are set to rise further in a tight labor market, reinforcing expectations for additional tightening.
Markets remain divided over the timing and pace of Bank of Japan rate hikes amid tariff-related uncertainty.
