Daily FX Trends - Mecklai Financial

Daily FX Trends - Commentaries

	USD/INR	EURO/USD	GBP/USD	USD/JPY	USD/CHF
Macro Support-Resistance Levels	92.50-95.25	1.1250-1.2100	1.2800-1.3700	150.00-162.50	0.7400-0.8300
Sentiment against USD	Neutral	Negative	Negative	Positive	Positive
Forecast for the day	92.70-93.25	1.1450-1.1575	1.3150-1.3275	159.25-160.50	0.7975-0.8015

Spot rupee ended at 92.98/99 to a dollar after opening the day at 93.00/01 level. Trading was within tight ranges today between 92.86 and 93.0750. Equity market benchmarks gained 0.7 from previous close.
DXY is trading slightly lower at 99.80 level as Trump’s deadline for Iran deal nears. Crude prices are trading a tad lower, but still above the $100/bbl.
Meanwhile, EURUSD climbed modestly higher today. Data releases from Eurozone showed growth is mixed across the Euro area. Eurozone Composite PMI was revised up slightly to 50.7 in March 2026 from the flash estimate of 50.7, but remained below 51.9, signalling the weakest private sector expansion since June 2025. Services PMI also eased in March to 50.2 from 51.9 in February. Barring Spain, growth eased across all major economies, Germany, France and Italy. France and Italy PMI numbers slipped below 50.0 level. Eurozone investor confidence also slipped to -19.2 in April from -3.1 in the previous month and far below forecasts for -7.8.
In UK, PMI Composite PMI slipped to 50.3 in March, down from February’s 53.7. The Services PMI Business Activity Index also fell, coming in at 50.5, down from the previous month's 53.9 and the lowest since April 2025. Both figures came in below the preliminary readings.
Important data releases scheduled today: US: ADP Weekly Employment change; Durable goods orders; Core Durable goods orders;

Spot rupee opens at 93.00 levels against yesterday’s closing of 93.06 levels. President Trump warned Iran that there will not be more extensions for ceasefire and attacks would resume. Crude oil prices surged higher today with Brent futures trading at $111.44/bbl. while WTI Crude futures are trading at $115.35/bbl. Equity market benchmarks are trading about 0.9 lower today.

DXY is trading higher at 100.015 level today. The ISM Services PMI fell to 54 in March 2026 from 56.1 in February, which was the highest since August 2022 and compared to forecasts of 55, pointing out to a slowdown in activity, drop in employment and rise in prices.

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