SELL JPYINR AUG @ 59.5 SL 59.7 TGT 59.2-59 - Kedia Advisory
USDINR
BUY USDINR AUG @ 87.5 SL 87.35 TGT 87.65-87.8.
Observations
USDINR trading range for the day is 86.86-88.
Rupee weakens after Trump pointing out that exports from India could face tariffs ranging between 20% and 25%.
The IMF revised its growth forecast for India to 6.4% for FY 2026, up 20 bps from the 6.2% it had projected in April.
India's industrial output growth decelerated to a 10-month low of 1.5% in June
EURINR
SELL EURINR AUG @ 101.4 SL 101.7 TGT 101-100.7.
Observations
EURINR trading range for the day is 100.53-101.75.
Euro gains amid weak Rupee after pressure seen as investor concern that deal between US and EU disproportionately benefits the US.
Retail sales in Germany increased by 1.0% month-over-month in June 2025, beating market forecasts of a 0.5% growth.
The French economy grew by 0.3% in Q2 2025, up from 0.1% in Q1 and surpassing market expectations of 0.1%.
GBPINR
SELL GBPINR AUG @ 117.4 SL 117.7 TGT 117-116.7.
Observations
GBPINR trading range for the day is 115.8-118.
GBP gains as the US Dollar remains subdued ahead of US Federal Reserve interest rate decision.
The latest survey from the CBI that households’ spending has diminished due to a slowdown in the labor demand.
A slowdown in the UK labor demand paves the way for more interest rate cuts by the BoE.
JPYINR
SELL JPYINR AUG @ 59.5 SL 59.7 TGT 59.2-59
Observations
JPYINR trading range for the day is 58.84-59.78.
JPY appreciated as the US dollar retreated ahead of the Federal Reserve’s policy announcement.
Investors also assessed the outcome of US-China trade talks in Stockholm, which ended Tuesday without an extension of the current truce
Market participants looked ahead to BOJ’s policy decision, with expectations for rates to remain steady as officials gauge the economic impact of US tariffs.
