Sell JPYINR Nov @ 57.4 SL 57.6 TGT 57.2-57 - Kedia Advisory
USDINR
SELL USDINR NOV @ 88.7 SL 88.85 TGT 88.55-88.45.
Observations
USDINR trading range for the day is 88.45-88.97.
Rupee ended a touch higher as modest dollar inflows helped the currency hold its ground in the face of persistent importer hedging demand.
India’s trade deficit widened sharply to USD 41.68 billion in October 2025, up from USD 26.23 billion a year earlier.
India's Gold imports soared to USD 14.72 billion, nearly tripling from USD 4.92 billion in October last year
EURINR
SELL EURINR NOV @ 103 SL 103.3 TGT 102.7-102.5.
Observations
EURINR trading range for the day is 102.69-103.27.
Euro steadied as risk appetite improved following the reopening of the US federal government, while investors awaited further guidance on ECB and Fed policy.
The euro zone economy continued to expand at a modest but respectable pace in the second quarter.
Key data later this week include flash PMIs for the Eurozone, Germany, France.
GBPINR
SELL GBPINR NOV @ 116.8 SL 117.1 TGT 116.5-116.2.
Observations
GBPINR trading range for the day is 116.32-117.02.
GBP steadied amid concerns about the UK's fiscal debt and weak economic data from the UK.
Prime Minister Starmer and Chancellor Reeves scrapped earlier proposals to hike basic and higher tax bands, opting instead for less-direct revenue measures.
The recent UK economic data, have prompted further economic concerns and fueled bets on a December rate cut from the BoE.
JPYINR
SELL JPYINR NOV @ 57.4 SL 57.6 TGT 57.2-57.
Observations
JPYINR trading range for the day is 57.09-57.69.
JPY slipped staying close to its lowest level since February despite stronger-than-expected growth data.
Japan’s economy shrank 1.8% on an annualized basis in Q3 2025, a smaller decline than the 2.5% drop expected.
Japan’s GDP contracted 0.4% qoq in Q3 2025, reversing an upwardly revised 0.6% growth in Q2 but performing slightly better than expectations.
