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USDINR

Observations

USDINR trading range for the day is 83.52-83.7.

Rupee ended lower, pressured by a decline in the Chinese yuan and tracking losses in Asian peers.

India's merchandise exports rise to $35.2 bln in June, trade ministry says

India's retail inflation rate rose for the first time in five months in June due to a continued sharp spike in food prices.

SELL USDINR JUL @ 83.65 SL 83.75 TGT 83.55-73.45.

EURINR

Observations

EURINR trading range for the day is 90.58-91.58.

Euro gains as market hopes for an accelerated pace of rate cuts from Fed reached a fever pitch.

Concerns over political risks in France eased post the parliamentary elections

Germany's wholesale prices dropped by 0.6% year-on-year in June 2024

SELL EURINR JUL @ 91.3 SL 91.5 TGT 91.05-90.85.

GBPINR

Observations

GBPINR trading range for the day is 108.11-108.71.

GBP rises as the US Dollar as the Fed looks set to start reducing interest rates in September.

Hot US PPI report fails to diminish Fed rate cut bets.

Investors await the UK inflation and employment data for fresh guidance on BoE interest rates.

SELL GBPINR JUL @ 108.6 SL 108.9 TGT 108.3-108.1.

JPYINR

Observations

JPYINR trading range for the day is 52.68-52.98.

  JPY gains on a suspected intervention by Japanese authorities.

JPY rallied to in the wake of cooler-than-expected US inflation figures

Bank of Japan data suggesting the government may have spent up to 3.57 trillion yen to prop up its currency.

SELL JPYINR JUL @ 52.9 SL 53.1 TGT 52.7-52.5.