Sell JPYINR Nov @ 56.5 SL 56.7 TGT 56.3-56.1 - Kedia Advisory
USDINR
SELL USDINR NOV @ 88.8 SL 88.9 TGT 88.7-88.6.
Observations
USDINR trading range for the day is 88.53-88.85.
Rupee slipped as traders pared bets on a U.S. Federal Reserve rate cut next month.
Dollar-rupee forward premiums eased as well with the 1-year implied yield down slightly at 2.17%. As of October,
India's unemployment rate remained stable at 5.2%, with significant shifts in the job market—rural unemployment declined
EURINR
SELL EURINR NOV @ 102.5 SL 102.8 TGT 102.2-102.
Observations
EURINR trading range for the day is 101.97-102.57.
Euro slipped weighed down by a stronger dollar as traders reduced expectations for a 25bps Fed rate cut in December.
Producer prices in Germany fell 1.8% year-on-year in October 2025, following a 1.7% decline in September and compared with market expectations of a 1.9% drop.
ECB is expected to keep interest rates unchanged through the end of 2026, with inflation hovering near its 2% target, stable economic growth, and unemployment at record lows
GBPINR
SELL GBPINR NOV @ 116.3 SL 116.6 TGT 116-115.7.
Observations
GBPINR trading range for the day is 115.56-116.34.
GBP dropped after UK CPI inflation failed to galvanize markets.
British consumers' optimism about the economy and their own finances recorded its sharpest fall this month since April.
Markets consider a BoE December rate cut to be likely, with some pricing in a high probability.
JPYINR
SELL JPYINR NOV @ 56.5 SL 56.7 TGT 56.3-56.1.
Observations
JPYINR trading range for the day is 56.12-56.92.
JPY weakened as investors braced for the announcement of Prime Minister Sanae Takaichi’s stimulus package, which is expected to exceed 20 trillion yen.
The Bank of Japan should continue normalizing interest rates to bring real rates back to equilibrium and avoid future distortions.
The central bank's October 2025 Outlook Report projects economic growth to slow temporarily before picking up.
