Sell JPYINR NOV @ 60.5 SL ABOVE 60.8 TGT 60 - Kedia Advisory
USDINR
BUY USDINR NOV @ 94 SL BELOW 93.85 TGT 94.25
Observations
USDINR trading range for the day is 93.66-94.48.
Rupee showed signs of consolidation after rally fuelled by falling crude prices and optimism over foreign inflows.
India's foreign exchange reserves have declined for the second consecutive week, falling by $2.69 billion to $717.06 billion.
Growth in India's services sector increased to a four-month high in October due to strong domestic demand and business orders.
EURINR
SELL EURINR NOV @ 105.6 SL ABOVE 105.9 TGT 105
Observations
EURINR trading range for the day is 104.82-106.02.
Euro steadied as investors remained cautious amid concerns over tighter AI regulations after the Democratic Party’s sweeping victory in the US midterm elections.
Germany’s trade surplus narrowed to €15.6 billion in September 2026 from €17.9 billion in August, marking its lowest level in three months.
Euro zone economic growth slows to four – month low in October, PMI shows
GBPINR
SELL GBPINR NOV @ 126.5 SL ABOVE 126.8 TGT 126
Observations
GBPINR trading range for the day is 125.22-127.29.
GBP gained as falling oil prices eased market concerns and investors awaited key economic data due later this week.
Governor Andrew Bailey indicated that further increases may be required unless the war in Iran comes to an end.
The central bank warned that inflation could peak at 4.9% in Q2 2027, while its adverse scenario envisages a sharper rise to 6.2% in Q3.
JPYINR
SELL JPYINR NOV @ 60.5 SL ABOVE 60.8 TGT 60
Observations
JPYINR trading range for the day is 60.15-60.75.
JPY steadied as hawkish comments from BOJ officials strengthened expectations for additional interest rate hikes.
Japan’s official reserve assets edged up by USD 723 million to USD 1.179 trillion at the end of October 2026 from USD 1.178 trillion a month earlier.
BOJ Chief Economist Kameda indicated that the central bank is likely to raise rates in December and continue tightening monetary policy next year.
