Sell JPYINR Jul @ 52.5 SL 52.7 TGT 52.3-52.1 - Kedia Advisory
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USDINR
Observations
USDINR trading range for the day is 83.35-83.61.
Rupee ended stronger aided by inflows spurred by the inclusion of the country's bonds into the JPMorgan emerging market debt index.
US personal consumption expenditure price index was unchanged in May from April, the least in six months, and following a 0.3% rise in April.
The S&P Global Ratings retained its growth forecast for India at 6.8% for FY25
SELL USDINR JUL @ 83.5 SL 83.6 TGT 83.4-83.3.
EURINR
Observation
EURINR trading range for the day is 89.36-89.54.
Euro steadied amid expectations of additional ECB policy easing following the release of CPI figures.
German import prices fell 0.4% year-on-year in May 2024, easing from a 1.7% drop in April
Data showed France's annual harmonised inflation rate slowed to 2.5% as expected
BUY EURINR JUL @ 89.4 SL 89.2 TGT 89.6-89.8.
GBPINR
Observations
GBPINR trading range for the day is 105.39-105.67.
GBP remained in range as investors evaluated new economic data and Britain's political future.
The British economy grew 0.7% in Q1, slightly above initial estimates of 0.6% and the strongest growth in over two years.
Business investment in the United Kingdom rose by 0.5% on quarter in Q1 of 2024, less than initial estimates of 0.9%
BUY GBPINR JUL @ 105.5 SL 105.2 TGT 105.8-106.
JPYINR
Observations
JPYINR trading range for the day is 52.05-52.81.
JPY weakened as the Ministry of Finance appointed Atsushi Mimura as Japan’s top currency diplomat, replacing Masato Kanda.
Japan’s Suzuki warned that sudden, one-sided yen moves are undesirable and that authorities would take appropriate action when necessary.
Japanese retail sales and industrial production data came in stronger-than-expected in May, while Tokyo’s inflation accelerated in June.
SELL JPYINR JUL @ 52.5 SL 52.7 TGT 52.3-52.1.
