USDINR trading range for the day is 66.9-67.53.
Rupee depreciated on selling by oil importers amid likely outflows from local stocks and on caution before RBI Monetary Policy Committee’s policy meeting.
Activity in India’s manufacturing sector grew at a weaker pace in May from the previous month.
The Indian economy grew 7.7 percent year-on-year in January-March, its quickest pace in nearly two years driven by higher growth in manufacturing.
>> BUY USDINR JUN 2018 @ 67.20 SL 67.05 TGT 67.36-67.48. NSE
EURINR trading range for the day is 78.32-79.41.
Euro recovered on short covering after prices dropped hurt by news that EU lawmakers from two parties forming Italy’s new government coalition had backed a proposal to help countries quit the euro.
The prospect of a snap election in Italy shook investor risk sentiment last week as some feared the vote could be a referendum on the country’s euro membership.
The upturn in the Eurozone manufacturing sector showed further signs of cooling in May, as initially estimated, final data from IHS Markit showed.
>> BUY EURINR JUN 2018 @ 78.60 SL 78.30 TGT 78.95-79.30. NSE
GBPINR trading range for the day is 89.53-90.51.
GBP remained supported as data showed UK manufacturing growth picking up speed in May while Italy’s political crisis dominated the market psyche.
Growth among British manufacturers picked up speed in May for the first time in six months, but the improvement masked underlying weakness.
Investors are pricing in a one-in-three chance of the BoE raising borrowing costs in August – the next time it updates its economic forecasts.
>> SELL GBPINR JUN 2018 @ 89.60 SL 89.90 TGT 89.35-89.15. NSE
JPYINR trading range for the day is 61.07-61.82.
JPY dropped as dollar remained supported after the release of an upbeat U.S. jobs report.
BoJ’s Kuroda: Global trade supports global economy, US is cautiously proceeding with policy normalization
BoJ’s Kuroda: On US trade issue, protectionism is not positive.
Protectionist steps will harm those who take them
>> SELL JPYINR JUN 2018 @ 61.20 SL 61.48 TGT 60.95-60.60. NSEAFTER POST CONTENT
I AM LAST