Sell USDINR Jul @ 94.9 SL 95.1 TGT 94.7-97.5 - Kedia Advisory
USDINR
SELL USDINR JUL @ 94.9 SL 95.1 TGT 94.7-97.5.
Observations
USDINR trading range for the day is 94.67-95.17.
Rupee slipped, thanks to a sharp retreat in oil prices and a salvo of policy measures to draw dollar inflows.
Industrial output rose 5.1% in May compared to 4.9% in preceding month, mainly on the back of improved manufacturing sector performance.
India’s forex reserves increased by USD 963 million to USD 672.587 billion during the week ended June 19, the RBI said.
EURINR
SELL EURINR JUL @ 108.3 SL 108.6 TGT 108-107.8.
Observations
EURINR trading range for the day is 108.07-108.61.
Euro steadied as the recent plunge in the price of oil to close to $70 a barrel has eased inflation worries.
Bank lending to euro zone companies grew at its fastest pace in three years in May, European Central Bank data showed.
Euro zone consumers cut their near term inflation expectations in May and kept them steady for longer horizons.
GBPINR
SELL GBPINR JUL @ 125.5 SL 125.8 TGT 125.2-125.
Observations
GBPINR trading range for the day is 125.22-126.18.
GBP gains as Andy Burnham, Britain's likely next prime minister, laid out his plans for the economy in his first speech since becoming a lawmaker.
UK shop price inflation increased by 1.2% year-on-year in June 2026, the same pace as in the previous month and slightly below market forecasts.
British businesses' confidence about the economic outlook fell this month although their assessment of their own prospects was less downbeat.
JPYINR
SELL JPYINR JUL @ 58.8 SL 59 TGT 58.6-58.4.
Observations
JPYINR trading range for the day is 58.09-60.11.
JPY dropped raising concerns among policymakers and keeping investors alert for potential currency intervention by Tokyo.
Japan’s industrial production rose 0.5% month-over-month in May 2026, matching April’s pace but falling short of market estimates.
Japan's unemployment rate stood at 2.5% in May 2026, unchanged from the previous month and in line with market expectations.
