Sell JPYINR SEP @ 62 SL 62.2 TGT 61.8-61.6 - Kedia Advisory
USDINR
BUY USDINR SEP @ 95.05 SL 94.85 TGT 95.25-95.4.
Observations
USDINR trading range for the day is 94.72-95.48.
Rupee extended losses weighed down by a further rise in oil prices, which would test the central bank's ability to cushion.
India's growth seen above 7% in FY27 as investment, exports take centre stage
Fiscal deficit target for FY27 achievable, but slower nominal GDP growth may pressure fiscal space
EURINR
SELL EURINR SEP @ 111 SL 111.3 TGT 110.7-110.4.
Observations
EURINR trading range for the day is 110.4-111.28.
Euro gained amid weakness in Rupee as oil prices extended their gains amid escalating Middle tensions
Investor morale in the euro zone rose to its highest reading in over four years in September, lifted by improvements in expectations and current economic conditions
Investors were preparing for ECB’s policy decision on Thursday, with the central bank widely expected to deliver a 25-basis-point rate hike.
GBPINR
SELL GBPINR SEP @ 129.1 SL 129.4 TGT 128.8-128.5.
Observations
GBPINR trading range for the day is 128.57-129.55.
GBP amid weakness in Rupee as geopolitical tensions weighed on Rupee, as oil prices hit multi-week highs.
BoE's Ramsden sees relatively benign picture of domestic inflation pressure.
BoE's Bailey says market curve shows inflation "risk premium".
JPYINR
SELL JPYINR SEP @ 62 SL 62.2 TGT 61.8-61.6.
Observations
JPYINR trading range for the day is 61.3-62.7.
JPY gains after US Treasury Secretary Scott Bessent warned traders on betting against the currency
Private-sector data showed Japanese manufacturers’ sentiment improved for a second consecutive month in September
The BOJ is broadly expected to raise interest rates next week, while the Takaichi administration has adopted a more hawkish stance.
