BUY JPYINR OCT @ 58 SL 57.8 TGT 58.25-58.45- Kedia Advisory
USDINR
SELL USDINR OCT @ 88.9 SL 89.05 TGT 88.75-88.65.
Observations
USDINR trading range for the day is 88.45-89.05.
Rupee nudged higher, as persistent central bank defence of the currency spurred interbank dollar sales.
India’s manufacturing sector is set for sustained growth in FY2025-26, driven by strong domestic demand, investment optimism, and recent GST cuts - FICCI
The World Bank raised India’s FY26 growth forecast to 6.5% from 6.3%, while trimming FY27 to 6.3%, citing higher US tariffs.
EURINR
BUY EURINR OCT @ 102.8 SL 102.5 TGT 103.1-103.4.
Observations
EURINR trading range for the day is 102.37-103.37.
Euro dropped as fresh data from Germany added to concerns about the eurozone’s economic outlook
ECB officials broadly agreed the current policy stance remains consistent with the 2% medium-term inflation target.
German exports unexpectedly declined, while imports fell more sharply than anticipated.
GBPINR
BUY GBPINR OCT @ 117.8 SL 117.5 TGT 118.2-118.5.
Observations
GBPINR trading range for the day is 117.41-118.71.
GBP dropped pressured by a stronger dollar and concerns ahead of the UK’s November budget.
Traders are wary that potential tax hikes to meet fiscal targets could weigh on the already fragile economy and the currency.
BoE Pill urged “conservative central banking,” stressing the need to prioritize inflation control over growth interventions.
JPYINR
BUY JPYINR OCT @ 58 SL 57.8 TGT 58.25-58.45.
Observations
JPYINR trading range for the day is 57.96-58.74.
JPY dropped as political shifts and soft economic data dampened prospects for BOJ rate hikes.
Japan’s bank lending rose 3.8% in September 2025, accelerating from a downwardly revised 3.5% gain in August.
Japan’s producer prices rose 2.7% year-on-year in September 2025, keeping the same pace as in the previous month.
