SELL USDINR JUL @ 86.2 SL 86.4 TGT 86-85.8 - Kedia Advisory
USDINR
SELL USDINR JUL @ 86.2 SL 86.4 TGT 86-85.8.
Observations
USDINR trading range for the day is 85.73-86.37.
Rupee dropped due to continued foreign outflows amid uncertainty over the US-India trade deal.
Despite global headwinds, the Indian economy is projected to grow at 6.5% in FY26.
India's unemployment rate remained steady at 5.6% in June 2025, mirroring May's figures
EURINR
BUY EURINR JUL @ 99.8 SL 99.6 TGT 100-100.2.
Observations
EURINR trading range for the day is 99.52-100.14.
Euro fell amid dollar’s strength supported by easing expectations of Fed rate cuts this year.
Eurozone inflation was confirmed at 2% year-on-year in June, with core inflation holding at 2.3%.
On the monetary policy front, investors largely expect the ECB to keep borrowing costs unchanged at next week’s meeting.
GBPINR
BUY GBPINR JUL @ 115.3 SL 115 TGT 115.6-115.8.
Observations
GBPINR trading range for the day is 114.85-115.91.
GBP settled flat as investors are weighing recent jobs and inflation data for clues on monetary policy.
Unemployment rose to 4.7%, while wage growth—though still historically strong—showed signs of slowing.
The number of employed people in the United Kingdom jumped by 134 thousand in the three months to May 2025
JPYINR
SELL JPYINR JUL @ 58.3 SL 58.5 TGT 58.1-57.9.
Observations
JPYINR trading range for the day is 57.67-58.77.
JPY gains on short covering after dropped earlier as investors reacted to disappointing trade figures.
Japan’s trade surplus narrowed to JPY 153.1 billion in June 2025, from JPY 221.3 billion a year earlier.
Investors are eyeing potential fiscal stimulus ahead of the July 20 Upper House election.
