JPYINR trading range for the day is 57.89-58.53 - Kedia Advisory
USDINR
BUY USDINR OCT @ 87.8 SL 87.7 TGT 87.95-88.1.
Observations
USDINR trading range for the day is 87.62-88.16.
Rupee touched a one-month high, as firm central bank intervention and nascent optimism above U.S.-India trade negotiations.
India's unemployment rate rises to 5.2% in September, driven by rural job losses
India's economy is set to grow by 6.6% in FY26, a testament to its solid economic backbone and adaptability - IMF
EURINR
BUY EURINR OCT @ 102.5 SL 102.2 TGT 102.8-103.
Observations
EURINR trading range for the day is 102.33-102.83.
Euro steadied as investors welcomed signs of political stabilization in France and assessed rising expectations of US interest rate cuts.
The Euro Area trade surplus fell to €1.0 billion in August 2025, down from €3.0 billion a year earlier.
The annual consumer price inflation in Italy stood at 1.6% in September 2025, unchanged from the previous month.
GBPINR
BUY GBPINR OCT @ 117.9 SL 117.6 TGT 118.2-118.4.
Observations
GBPINR trading range for the day is 117.65-118.41.
GBP remained firm after UK GDP data came, providing some relief to Finance Minister Reeves ahead of the government’s November 26 budget.
The UK economy grew 0.1% in August, rebounding from a 0.1% contraction in July, led by manufacturing, while services were flat for a second month.
Traders have increased bets on BOE rate cuts next year, even as the IMF cautioned that inflation is expected to remain the highest.
JPYINR
BUY JPYINR OCT @ 58.1 SL 57.9 TGT 58.3-58.5.
Observations
JPYINR trading range for the day is 57.89-58.53.
JPY dropped as Japan’s core machinery orders fell 0.9% month-over-month to ¥8890 billion in August 2025.
Bank of Japan board member Naoki Tamura cautioned against tightening policy too soon, stressing the need to avoid a return to stagnant prices and wages.
The Bank of Japan should maintain its loose monetary policy and raise interest rates only gradually amid persistent global trade uncertainties
