Daily FX Trends - Mecklai Financial

Daily FX Trends - Commentaries

	USD/INR	EURO/USD	GBP/USD	USD/JPY	USD/CHF
Macro Support-Resistance Levels	84.00-87.00	1.0900-1.1600	1.2700-1.3750	140.00-160.00	0.8000-0.8800
Sentiment against USD	Neutral	Positive	Positive	Negative	Negative
Forecast for the day	85.40-85.80	1.1275-1.1380	1.1275-1.1380	143.25-144.35	0.8195-0.8240

Spot rupee closed at 85.64/65 to a dollar level after opening at 85.65/66 level. The rupee gave up early gains after Dollar index recovered in global markets. Equity market benchmarks ended about 0.5 higher today.
DXY is trading higher at 100.23 level today after Euro and GBP eased its grip on the US currency. GBPUSD is off its day’s highs at 1.34 level after data showed UK inflation came in hotter than expected in April, with headline CPI rising 1.2 m/m versus f/c of 1.1 m/m. Annual CPI accelerated from 2.6 y/y to 3.5 y/y, above the 3 mark for the first time since March 2024. Core CPI, which strips out energy, food, alcohol and tobacco, climbed sharply from 3.4 y/y to 3.8 y/y, its highest level since April 2024. Breakdowns show a sharp jump in both goods and services inflation. Goods inflation accelerated from 0.6 y/y to 1.7 y/y, while services inflation climbed from 4.7 y/y to 5.4 y/y, highlighting the strength of domestic price pressures.
EURUSD is now trading at 1.1323 level while USDJPY is trading higher at 104.05 level.
There are no major data releases from the US tonight.

Rupee opened on flatter note this morning at 85.65 levels. Data aftermarket hours showed India’s infrastructure output expanded by 0.5 y/y in April 2025, the least in eight months, to slow down from the upwardly revised 4.6 growth rate in the earlier month. Equity market benchmarks are up about 0.1 higher in early trades.

DXY is trading at 99.67 level. Dollar index was trading at lower levels yesterday. There were no major data releases from the US overnight.

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