Sell USDINR Jun @ 95.5 SL 95.7 TGT 95.3-95.1. - Kedia Advisory
USDINR
SELL USDINR JUN @ 95.5 SL 95.7 TGT 95.3-95.1.
Observations
USDINR trading range for the day is 95.06-95.66.
Rupee edged lower, retreating from multi-week highs as uncertainty surrounding US-Iran negotiations kept crude oil markets volatile.
India’s fiscal deficit widened sharply to INR 3.6 trillion in April 2026, the first month of the 2026-27 fiscal year.
Industrial output in India expanded by 4.9% from the previous year in April of 2026, firmly above the market expectations of 3.9%.
EURINR
SELL EURINR JUN @ 111.3 SL 111.6 TGT 111-110.7.
Observations
EURINR trading range for the day is 110.89-111.49.
Euro gains amid conflicting signals about progress in ending the Middle East conflict.
US President Trump and Israeli Prime Minister Benjamin Netanyahu offered differing accounts of a call about the Lebanon conflict.
The data comes ahead of next week ECB meeting, with markets pricing in a 95% chance of a 25-basis-point rate hike.
GBPINR
SELL GBPINR JUN @ 128.7 SL 129 TGT 128.4-128.1.
Observations
GBPINR trading range for the day is 128.19-128.83.
GBP seen supported as investors awaited clarity on Middle East peace efforts.
Net borrowing of consumer credit by individuals in the UK eased slightly to £1.86 billion in April 2026 from the upwardly revised £1.90 billion.
Investors are pricing in nearly two Bank of England interest rate hikes this year, with the first increase fully expected in September.
JPYINR
SELL JPYINR JUN @ 60.1 SL 60.3 TGT 59.9-59.7.
Observations
JPYINR trading range for the day is 20.01-20.01.
JPY steadied as dollar seen supported amid stalled peace negotiations between the US and Iran.
Finance Minister Satsuki Katayama said authorities stand ready to take appropriate action in currency markets when necessary.
Japanese authorities spent ¥11.7 trillion on currency intervention in late April, confirming widespread market speculations.
