Sell Jpyinr Jun @ 60.15 SL 60.35 TGT 59.9-59.7 - Kedia Advisory
USDINR
SELL USDINR JUN @ 85.8 SL 85.95 TGT 85.65-85.55.
Observations
USDINR trading range for the day is 84.12-89.24.
Rupee declined as traders unwound bullish positions amid persistent demand for the greenback.
OECD projects India's economic growth to remain strong and stable, forecasting a GDP growth of 6.3% in FY26.
India services sector growth steady in May as demand remains strong, PMI shows
EURINR
SELL EURINR JUN @ 97.9 SL 98.1 TGT 97.6-97.4.
Observations
EURINR trading range for the day is 97.51-98.41.
Euro gains as investors appeared to shrug off rising global trade tensions.
Eurozone consumer prices rose 1.9% yoy in May, reinforcing expectations for a 25 basis point ECB rate cut this week.
OECD lowered its global growth forecast, projecting GDP to slow from 3.3% in 2024 to 2.9% in both 2025 and 2026, citing escalating trade tensions.
GBPINR
SELL GBPINR JUN @ 115.9 SL 116.2 TGT 115.6-115.3.
Observations
GBPINR trading range for the day is 115.78-116.72.
GBP gains as investors welcomed stronger UK economic data and a new defence plan.
UK manufacturing sector declined less than expected in May, and house prices rose 3.5% year-on-year.
Despite global economic worries, UK assets remain attractive as the British economy seems better protected from trade risks.
JPYINR
SELL JPYINR JUN @ 60.15 SL 60.35 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 59.5-60.32.
JPY dropped as traders remained cautious ahead of key US labor market reports
The au Jibun Bank Japan Services PMI was revised higher to 51.0 in May 2025 from 50.8 in the preliminary estimates.
The au Jibun Bank Japan Composite PMI stood at 50.2 in May 2025, down from 51.2 in the previous month.
