Sell GBPINR NOV @ 116.2 SL 116.5 TGT 115.9-115.6 - Kedia Advisory
USDINR
SELL USDINR NOV @ 88.8 SL 88.9 TGT 88.7-88.6.
Observations
USDINR trading range for the day is 88.39-89.01.
Rupee closed stronger on Tuesday, hoisted by likely market intervention by the Reserve Bank of India.
Foreign investors were net buyers of Indian equities worth $1.6 billion last month but the year-to-date tally stands at a net outflow of nearly $17 billion.
The HSBC India Manufacturing PMI stood at 59.2 in October 2025, above flash data of 58.4 and September's reading of 57.7.
EURINR
SELL EURINR NOV @ 102.3 SL 102.6 TGT 102-101.7.
Observations
EURINR trading range for the day is 101.95-102.65.
Euro dropped as investors weighed last week’s key policy decisions and the outlook for interest rates.
The confirmation that Eurozone manufacturing activity stabilized in October provided little support for the currency.
Eurozone inflation eased to just above the ECB’s 2% target, third-quarter GDP growth exceeded expectations, and October business surveys suggested improving sentiment.
GBPINR
SELL GBPINR NOV @ 116.2 SL 116.5 TGT 115.9-115.6.
Observations
GBPINR trading range for the day is 115.51-117.09. .
GBP dropped as traders tried to fine-tune their positions ahead of Thursday's in-the-balance Bank of England meeting.
British factories had their strongest month in a year in October did little for sterling, in part because the recovery was driven by one-off factors.
Market pricing currently reflects around a one-in-three chance of a 25-basis-point rate cut, having risen from close to zero.
JPYINR
SELL JPYINR NOV @ 58 SL 58.2 TGT 57.8-57.6.
Observations
JPYINR trading range for the day is 57.78-58.1.
JPY steadied as the Bank of Japan adopted a cautious approach to interest rate hikes at a time the US Federal Reserve has turned more hawkish.
The S&P Global Japan Manufacturing PMI was revised slightly lower to 48.2 in October 2025, from a preliminary estimate of 48.3.
Investors now look ahead to key data releases this week including wage and household spending figures to guide the monetary policy outlook further.
