Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 94.50-96.00 1.1250-1.2100 1.2800-1.3700 156.75-164.00 0.7400-0.8300
Sentiment against USD Neutral Positive Positive Neutral Neutral
Forecast for the day 95.20-95.55 1.1475-1.1580 1.3450-1.3550 158.80-159.65 0.8125-0.8150

Spot rupee opens at 95.38 levels against previous close at 95.45 level. Forex markets are in limbo as concerns about Middle East peace lingers while Fed rate hike bets are getting rolled back. Equity market benchmarks are trading about 0.3 lower in early trades.


Data released yesterday showed that India’s trade deficit widened to $31.98 billion in July 2026, up from $27.5 billion in the same month of the previous year and surpassing market forecasts of $30.2 billion. It was the largest trade shortfall since January, as imports surged by 17.5 annually to an all-time high of $76.2 billion, partly reflecting higher oil, fuel, and coal prices amid fresh hostilities in the Middle East. Exports also advanced by a robust 19.6 to $44.2 billion, amid increased shipments of petroleum products, electronics, engineering goods, gems and jewellery, iron ore, meat, dairy and poultry products, and marine products.


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