Sell JPYINR NOV @ 58 SL 58.2 TGT 57.8-57.6. - Kedia Advisory
USDINR
SELL USDINR NOV @ 88.8 SL 88.9 TGT 88.7-88.6.
Observations
USDINR trading range for the day is 88.54-88.88.
Rupee shuffled in a tight range as a boost from improved risk appetite globally ran into importers' dollar demand
The HSBC India Services PMI was slightly revised higher to 58.9 in October 2025, down from a final reading of 60.9 in September.
The HSBC India Composite PMI stood at 60.4 in October 2025, below September’s 61.0, marking the lowest reading since May.
EURINR
SELL EURINR NOV @ 102.3 SL 102.6 TGT 102-101.7.
Observations
EURINR trading range for the day is 101.97-102.51.
Euro settled flat after ECB wage data signaled easing pay growth
Germany’s industrial production rose 1.3% month-over-month in September 2025, below the expected 3% gain.
Private payroll employment in France fell by 0.3%, or 60,600 jobs, to a nearly three-year low of 20.97 million in Q3 2025
GBPINR
SELL GBPINR NOV @ 116.4 SL 116.7 TGT 116.1-115.9.
Observations
GBPINR trading range for the day is 115.62-116.4.
GBP settled flat after Chancellor Rachel Reeves’ speech signaling upcoming tax hikes.
The Bank of England’s MPC voted 5–4 to keep the Bank Rate at 4% at its 5 November meeting, in line with expectations.
UK Services PMI was revised upward to 52.3 in October 2025, marking a notable improvement from September's five-month low of 50.8.
JPYINR
SELL JPYINR NOV @ 58 SL 58.2 TGT 57.8-57.6.
Observations
JPYINR trading range for the day is 57.69-58.13.
JPY settled flat as BOJ adopted a cautious approach to interest rate hikes at a time the US Federal Reserve has turned more hawkish.
The S&P Global Japan Services PMI came in at 53.1 in October 2025, above the flash estimate of 52.4 but slightly below September’s 53.3.
The S&P Global Japan Composite PMI stood at 51.5 in October 2025, above the flash estimate of 50.9 and up from September’s four-month low of 51.3.
