Daily FX Trends - Mecklai Financial

Daily FX Trends - Commentaries

	USD/INR	EURO/USD	GBP/USD	USD/JPY	USD/CHF
Macro Support-Resistance Levels	93.50-96.00	1.1250-1.2100	1.2800-1.3700	150.00-162.50	0.7400-0.8300
Sentiment against USD	Positive	Positive	Positive	Negative	Negative
Forecast for the day	94.45-95.15	1.1675-1.1800	1.3550-1.3675	155.60-156.75	0.7765-0.7810

Spot rupee ended at 94.47/48 to a dollar after opening the day at 94.58. The Rupee witnessed a choppy session today, touching an intraday low of 94.34 and high of 94.685. Equity benchmarks ended lower by 0.66 today.
DXY declined modestly to 97.92 level ahead of the key Non-Farm Payrolls data release later tonight. Exchange of fire between US and Iran near Straits of Hurmuz yesterday has heightened the tensions across Middle East. Euro gained to 1.1769 levels as the dollar lost ground. Data release from the region saw German Industrial Production decline by 0.7 in Mar. Sterling rose to 1.3615 levels. UK House Prices edged lower by 0.1 in Apr. Elsewhere, USDJPY traded at 156.73 following sharp appreciation hitting 155 levels yesterday amid suspected BoJ intervention.
Important data releases scheduled today: US: Non Farm Payroll, Unemployment Rate, Michigan Consumer Expectations Index

Spot rupee opens at 94.58 against yesterday’s closing of 94. Crude oil prices climbed higher on renewed US-Iran tensions.

DXY is trading at 98.27 level as risk appetite waned on renewed US-Iran tensions. Meanwhile data from US showed initial jobless claims rose modestly by 10k to 200k in the week ending May 2, slightly above expectations of 199k. Despite the increase, claims levels remain historically low. Continuing claims improved modestly, falling by -10k to 1.766m in the week ending April 25.

Elsewhere, the data released by Challenger Gray and Christmas showed US-based employers announced 83,387 job cuts in April 2026, the most in three months, compared to 60,620 in March, but down 21 from the same month last year. April’s total is the third highest for an April month since 2009

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