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USDINR

BUY USDINR OCT @ 94.8 SL BELOW 94.6 TGT 95.2

Observations

USDINR trading range for the day is 94.20-95.32.

Rupee dropped as Brent oil prices climbed to their highest since May on deepening worries about conflict in the Middle East

RBI's Monetary Policy Committee raised the benchmark repo rate by 25 basis points to address rising inflation concerns.

India's core sector output growth for September recorded a remarkable 7.9%, driven largely by expansion in coal and electricity.

EURINR

SELL EURINR OCT @ 107 SL ABOVE 107.3 TGT 106.5

Observations

EURINR trading range for the day is 106.60-107.43.

Euro seen pressured as rising French borrowing costs weighed on sentiment.

Euro zone's current account surplus fell to €8.7 billion euros ($9.77 billion) in August, its lowest level since January 2023

Energy-driven inflation in the euro zone isn't spreading to other prices, a comforting sign for the European Central Bank, ECB Pereira said..

GBPINR

SELL GBPINR OCT @ 127.1 SL ABOVE 127.4 TGT 126.6

Observations

GBPINR trading range for the day is 126.24-127.62.

GBP gained after a hotter-than-anticipated inflation reading solidified bets of a Bank of England interest rate hike next month.

UK annual consumer price inflation 3.5% in September, highest in 11 months

British workers have seen another modest rise in the pace of pay growth and there were other hints of a small recovery in jobs market.

JPYINR

SELL JPYINR OCT @ 61.1 SL ABOVE 61.3 TGT 60.6

Observations

JPYINR trading range for the day is 59.95-61.97.

JPY rose amid Rupee weakness and as investors awaited next week's Bank of Japan policy meeting.

The central bank is widely expected to keep interest rates unchanged before potentially raising them in December amid persistent inflationary pressures.

BOJ Deputy Governor Himino noted that underlying inflation was approaching the bank's 2% target and cautioned against delaying policy adjustments.