SELL EURINR OCT @ 103.3 SL 103.6 TGT 103-102.7 - Kedia Advisory
USDINR
BUY USDINR OCT @ 87.8 SL 87.7 TGT 87.95-88.1.
Observations
USDINR trading range for the day is 87.57-88.45.
Rupee logged its best week in four months, buoyed largely by the RBI’s forceful intervention in the foreign exchange market.
Dovish signals from the Reserve Bank of India reinforced expectations of a near-term rate cut.
India’s inflation slowed to 1.54% in September, the lowest in eight years and below the RBI’s 2–6% target, bolstering the case for a December cut.
EURINR
SELL EURINR OCT @ 103.3 SL 103.6 TGT 103-102.7.
Observations
EURINR trading range for the day is 102.48-103.56.
Euro rose after France’s government survived a no-confidence vote.
Prime Minister Sebastien Lecornu’s pledge to suspend a landmark pension reform secured support from some left-wing lawmakers.
Dollar came under pressure after Fed Chair Jerome Powell highlighted labor market weakness.
GBPINR
SELL GBPINR OCT @ 118.6 SL 118.9 TGT 118.3-118.
Observations
GBPINR trading range for the day is 117.89-118.73.
GBP gains as expectations for a more dovish Fed outweighed concerns about the UK economy and next month’s budget.
BOE policymaker Taylor said that he saw an increasingly likely risk of a "bumpy landing" for Britain's economy with inflation falling too low.
Traders are pricing in a 44% chance of a 25 basis-point rate cut by the Bank of England in December, with full expectations for easing by March 2026.
JPYINR
SELL JPYINR OCT @ 59 SL 59.2 TGT 58.8-58.6.
Observations
JPYINR trading range for the day is 58.07-59.25.
JPY gains after BOJ Governor Kazuo Ueda signaled readiness to raise interest rates if confidence in the economic outlook continues to build.
Ueda said he would evaluate upcoming data ahead of this month’s policy meeting, suggesting the BOJ has not ruled out a near-term move.
JPY drew additional support from softer dollar amid escalating US-China trade tensions, the prolonged US government shutdown, and dovish signals from Fed.
