Sell JPYINR NOV @ 60.6 SL ABOVE 60.8 TGT 60.2 - Kedia Advisory
USDINR
BUY USDINR NOV @ 94.5 SL BELOW 94.35 TGT 94.8
Observations
USDINR trading range for the day is 94.32-94.81.
Rupee reaching a two-week high as a sharp decline in crude oil prices eased concerns over India’s import bill and external balance.
India's manufacturing growth slowed in October, with the HSBC Manufacturing PMI falling to 54.7 from 55.1 in September, as domestic demand and hiring weakened.
India's GST collections in October reached ?2.31 lakh crore, reflecting a 22.9% year-on-year increase.
EURINR
SELL EURINR NOV @ 106.5 SL ABOVE 106.8 TGT 106
Observations
EURINR trading range for the day is 106.03-107.23.
Euro dropped amid Rupee firmness after an overwhelming victory by Democrats in US midterm elections, which sent oil prices sharply lower and buoyed risk sentiment.
In the euro zone, inflation rose to 4% in October from 3.8% a month earlier, in line with expectations.
Wage growth in the euro zone is likely to rebound slightly in the first nine months of next year based on the latest pay deals.
GBPINR
SELL GBPINR NOV @ 127.3 SL ABOVE 127.6 TGT 126.8
Observations
GBPINR trading range for the day is 126.76-128.15.
GBP dropped amid Rupee firmness buoyed by a weaker US dollar following the Democrats' sweeping victory in the midterms.
BOE voted by a majority of 8-1 to raise the key bank rate by 25bps to 4% in November 2026, in line with expectations.
UK Services PMI rose to 52.8 in October 2026, up from 52.1 in September, although below the preliminary estimate of 53.1.
JPYINR
SELL JPYINR NOV @ 60.6 SL ABOVE 60.8 TGT 60.2
Observations
JPYINR trading range for the day is 60.30-60.90.
JPY steadied as BOJ September meeting minutes reinforced expectations of further monetary tightening.
JPY drew support from a weaker US dollar following Democratic victories in the US midterm elections.
Japan’s S&P Global Services PMI Business Activity Index rose to 51.7 in October 2026 from 51.3 in September, but fell short of the flash estimate of 52.0.
