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USDINR

Observations

USDINR trading range for the day is 83.42-83.72.

Rupee ended higher as mild inflows and exporter dollar sales lifted the currency.

The HSBC India Manufacturing PMI increased to 58.5 in June 2024 from a final 57.5 in the previous

The HSBC India Composite PMI rose to 60.9 in June 2024, up from 60.5 in the previous month

BUY USDINR JUN @ 83.65 SL 73.75 TGT 83.55-83.45.

EURINR

Observation

EURINR trading range for the day is 88.99-89.79.

Euro dropped after weaker-than-expected PMIs for June

The Eurozone Manufacturing PMI dropped to 45.6 in June 2024, hitting a six-month low

The HCOB Germany Manufacturing PMI fell to 43.4 in June 2024 from 45.4 in May.

BUY EURINR JUN @ 89.2 SL 89 TGT 89.4-89.6

GBPINR

Observations

GBPINR trading range for the day is 105.28-106.24.

GBP dropped as dollar gains as Fed continue to argue in favor of one rate cut this year

Retail sales in the UK soared 2.9% month-over-month in May 2024.

Public sector net borrowing, in the UK increased to £15.0 billion in May 2024

JPYINR

Observations

JPYINR trading range for the day is 52.37-52.97.

JPY weakened as Japan services shrinks for first time in near 2 years

The au Jibun Bank Japan Composite PMI fell to 50.0 in June from a final 52.6 in May, flash data showed.

Japan’s top currency diplomat Masato Kanda said the government stands ready to take further actions against speculative currency movements

SELL JPYINR JUN @ 52.7 SL 52.9 TGT 52.5-52.3.