Daily FX Trends - Mecklai Financial

Daily FX Trends - Commentaries

	USD/INR	EURO/USD	GBP/USD	USD/JPY	USD/CHF
Macro Support-Resistance Levels	94.25-97.50	1.1250-1.2100	1.2800-1.3800	150.00-162.50	0.7400-0.8300
Sentiment against USD	Neutral	Neutral	Neutral	Neutral	Neutral
Forecast for the day	95.30-95.85	1.1490-1.1585	1.3300-1.3400	159.75-160.60	0.7960-0.7990

Spot rupee ended firmer today at 95.35/36 to a dollar level after opening at 95.47/48 and trading a low of 95.67/68 level. The rupee surged today as global crude prices fell more than 2 on the day on growing confidence in the Middle east peace process. Equity market benchmarks ended about 0.5 higher today.
DXY is trading at 99.89 level as traders closely follow the developments in the Middle east conflict. Crude oil prices have dropped about 2 in the day on growing confidence in the Middle east peace. Brent crude near month futures are trading at $92.446/bbl. While the WTI crude futures are trading at $89.225/bbl.
Data released today showed Germany’s industrial production rose 0.4 m/m in April 2026, rebounding from a revised 0.1 decline in March and matching market expectations. This marked the first increase in four months, On a less volatile three-month basis, industrial output declined 0.5 in the February–April period compared with the previous three months. On an annual basis, industrial production fell 0.5, following a 3.4 drop in March. Also, it was reported
that Germany’s trade surplus narrowed to €14.5 billion in April 2026 from an upwardly revised €14.7 billion in March, falling short of market expectations of €15.0 billion. It was the smallest trade surplus since November, as imports grew faster than exports
Tonight the US will release the Consumer Price inflation data for May 2026.
Key data releases ahead: US: CPI m/m, y/y; Core CPI m/m, y/y ;

Spot rupee opened higher at 95.47, as crude oil prices fell following the announcement from Iran and Israel that they would pause fighting. Equity market benchmarks are trading about 0.5 higher in early trades.

DXY traded modestly lower at 99.97 level. Risk sentiment improved slightly after Iran announced end of its military campaign against Israel. Crude oil prices gave up most of intraday gains and ended the day largely unchanged from previous close.

Meanwhile, the Fed New York’s survey showed that Median one-year-ahead inflation expectations in the US decreased to 3.5 in May 2026 from 3.6 in April which was the highest in a year.

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