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USDINR

SELL USDINR JUN @ 85.8 SL 85.95 TGT 85.65-85.55.

Observations

USDINR trading range for the day is 85.48-85.88.

Rupee weakened amid renewed US Dollar demand and a rise in crude oil prices

India's manufacturing sector experienced a slight slowdown in May, with the PMI falling to a three-month low of 57.6.

On Friday, the RBI interest rate decision and the US May employment report will be in the spotlight.

EURINR

SELL EURINR JUN @ 97.9 SL 98.1 TGT 97.6-97.4.

Observations

EURINR trading range for the day is 97.71-98.01.

Euro steadied amid downgraded global growth outlook from the OECD.

Euro zone inflation eased to 1.9% in May, slipping below the European Central Bank’s 2% target

ECB is expected to cut interest rates by another 25 bps on Thursday, but investors will be watching for guidance on the bank’s future path

GBPINR

SELL GBPINR JUN @ 115.9 SL 116.2 TGT 115.6-115.3.

Observations

GBPINR trading range for the day is 115.51-115.95.

GBP steadied as OECD downgraded the UK’s growth forecast to 1.3% for 2025 and 1.0% for 2026

The UK manufacturing sector declined less than expected in May, and house prices rose 3.5% year-on-year.

BOE needs to pay closer attention to the impact of its quantitative tightening programme on monetary and financial conditions now that it is cutting interest rates.

JPYINR

SELL JPYINR JUN @ 60.15 SL 60.35 TGT 59.9-59.7.

Observations

JPYINR trading range for the day is 59.64-60.46.

JPY gains as as BOJ Ueda signaled a willingness to raise interest rates if economic and price momentum picks up.

Ueda emphasized that Japan's economy is undergoing a moderate recovery, supported by solid business sentiment and improving corporate profits.

Investors now await upcoming labor market and household spending data later this week for further insights.