Sell JPYINR SEP @ 60.6 SL 60.8 TGT 60.4-60.2 - Kedia Advisory
USDINR
SELL USDINR SEP @ 96 SL 96.2 TGT 95.8-95.6.
Observations
USDINR trading range for the day is 95.62-96.18.
Rupee fell as a jump in oil prices and little progress in U.S.-Iran talks raised concerns that inflation could prompt further global rate hikes.
OECD raised its 2026 (FY27) economic growth forecast for India to 7.1%, an 80 basis points increase from its June projection of 6.3%.
S&P Global Ratings raised India's FY27 GDP growth forecast to 7% from 6.6%.
EURINR
SELL EURINR SEP @ 109.3 SL 109.6 TGT 109-108.7.
Observations
EURINR trading range for the day is 108.94-109.64.
Euro decline as the dollar strengthened following stronger-than-expected US PMI data and a series of hawkish remarks from Fed policymakers.
Investors digested stronger-than-expected PMI data showing that eurozone private-sector activity expanded in September at its fastest pace in almost three-and-a-half years.
ECB’s Nagel said that oil prices were becoming an increasingly important factor in monetary-policy decisions and left the door open to further rate hikes.
GBPINR
SELL GBPINR SEP @ 127 SL 127.3 TGT 126.7-126.5.
Observations
GBPINR trading range for the day is 126.61-127.37.
GBP weakened as the US dollar strengthened following stronger-than-expected PMI data and a series of hawkish comments from Fed policymakers.
The latest PMI survey showed that business activity continued to expand in September, although the pace of growth eased slightly and fell short of market expectations.
Despite the softer reading, markets continue to price in a meaningful probability of a 25-basis-point Bank of England rate hike in November.
JPYINR
SELL JPYINR SEP @ 60.6 SL 60.8 TGT 60.4-60.2.
Observations
JPYINR trading range for the day is 60.32-60.82.
JPY dropped after pressure as dollar gained amid expectations for further Federal Reserve rate hikes.
Japan Manufacturing PMI declined to 54.1 in September 2026 from 54.9 in the previous month, below market expectations of 55.0.
Japan’s S&P Global Services PMI Business Activity Index fell to 51.6 in September 2026 from a final 52.5 in August, which had marked the highest reading since March
