SELL USDINR JUL @ 86 SL 86.15 TGT 85.85-85.75 - Kedia Advisory
USDINR
SELL USDINR JUL @ 86 SL 86.15 TGT 85.85-85.75.
Observations
USDINR trading range for the day is 85.61-86.23.
Rupee edged up tracking gains in most Asian peers, as the dollar index dipped ahead of a key U.S. inflation reading
India's merchandise trade deficit in June was narrower-than-expected at $18.78 billion.
The odds of a rate cut by the Federal Reserve in July are under 5%, while September odds are a tad above 60%, as per CME's FedWatch tool.
EURINR
SELL EURINR JUL @ 100.4 SL 100.7 TGT 100.1-99.9.
Observations
EURINR trading range for the day is 100.24-100.66.
Euro dropped despite signs of potential progress in global trade negotiations.
Trump signaled openness to renewed tariff talks with the European Union and other key partners, easing some investor concerns.
Retail Sales in the Euro Area decreased 0.70 percent in May of 2025 over the previous month
GBPINR
SELL GBPINR JUL @ 115.6 SL 115.9 TGT 115.3-115.
Observations
GBPINR trading range for the day is 114.73-117.07.
GBP dropped after BOE Governor signaled the central bank is prepared to make deeper interest rate cuts if the labor market weakens further.
Bailey said the UK economy is underperforming its potential, creating slack that should help ease inflation.
Britain announced it will finalize a deal with Vietnam to remove barriers for UK pharmaceutical companies
JPYINR
SELL JPYINR JUL @ 58.6 SL 58.8 TGT 58.3-58.
Observations
JPYINR trading range for the day is 58.46-58.82.
JPY fell as persistent trade-related tensions weighed on sentiment.
A Japanese official warned that the nation should brace for potential economic fallout if the tariffs are implemented.
Investors are now focused on upcoming trade and inflation data from Japan.
