Sell USDINR AUG @ 87.2 SL 87.35 TGT 87-86.9 - Kedia Advisory
USDINR
SELL USDINR AUG @ 87.2 SL 87.35 TGT 87-86.9.
Observations
USDINR trading range for the day is 87.18-87.72.
Rupee weakened further ahead of a speech by Federal Reserve Chair Jerome Powell.
India's economic growth is projected at 6.7% in the first quarter of fiscal year 2026.
Retail inflation for farm and rural workers in India saw a decrease in July 2025, dropping to 0.77% and 1.01% respectively.
EURINR
SELL EURINR AUG @ 101.7 SL 102 TGT 101.4-101.1.
Observations
EURINR trading range for the day is 101.2-101.8.
Euro dropped as investors weighed the impact of the EU’s new trade deal with the US.
Germany’s economy contracted 0.3% qoq in Q2 2025, sharper than the preliminary estimate of a 0.1% drop.
France’s business climate indicator held steady at 96 in August 2025, unchanged from July.
GBPINR
SELL GBPINR AUG @ 117.6 SL 117.9 TGT 117.3-117.
Observations
GBPINR trading range for the day is 116.92-117.88.
GBP dropped as dollar gains on the back of easing Fed dovish speculation for the September monetary policy meeting.
The GfK Consumer Confidence Index for the UK climbed to -17 in August 2025 from -19 in July, the strongest reading in a year.
Money markets now see less than a 50% chance of a rate cut before end-2025, with only about a 36% probability of a quarter-point reduction this year.
JPYINR
SELL JPYINR AUG @ 59.25 SL 59.5 TGT 59-58.75.
Observations
JPYINR trading range for the day is 58.71-59.09.
JPY dropped as traders digested the latest inflation data.
Japan's annual inflation rate eased to 3.1% in July 2025 from 3.3% in the previous month.
Japan’s core CPI, rose 3.1% year-on-year in July 2025, down slightly from 3.3% in June.
