Sell USDINR Dec @ 89.5 SL 89.65 TGT 89.45-89.35. - Kedia Advisory
USDINR
Sell USDINR Dec @ 89.5 SL 89.65 TGT 89.45-89.35.
Observations
USDINR trading range for the day is 89.43-89.71.
Rupee posts monthly drop near record low, held up by RBI amid outflows, short bets
India's fiscal deficit in April-October was 8.25 trillion rupees, 52.6% of the estimate for the financial year ending March 31.
India's economic growth forecast for 2025-26 has been raised to 6.5 percent.
EURINR
Sell EURINR Dec @ 103.8 SL 104.1 TGT 103.5-103.2.
Observations
EURINR trading range for the day is 103.56-104.06.
Euro steadied as minutes from the ECB’s most recent meeting suggested policymakers were in no rush to cut rates.
ECB policymakers agreed that keeping interest rates unchanged remained appropriate amid elevated uncertainty.
Germany’s retail sales dropped 0.3% month-over-month in October 2025, missing market forecasts of a 0.2% growth.
GBPINR
Sell GBPINR Dec @ 118.4 SL 118..7 TGT 118.1-117.9.
Observations
GBPINR trading range for the day is 118.04-118.76.
GBP remained in range as the US Dollar softens amid mounting expectations of a Fed rate cut in December.
GBP strengthens as traders reassess Chancellor Rachel Reeves’ budget and her renewed commitment to fiscal discipline.
Britain's fiscal position remains vulnerable despite finance minister Rachel Reeves' tax-raising budget this week, S&P Global Ratings said.
JPYINR
Sell JPYINR Dec @ 57.6 SL 57.8 TGT 57.4-57.2.
Observations
JPYINR trading range for the day is 57.29-57.65.
JPY dropped on profit booking after seen supported as stronger-than-expected economic data supported the currency.
Retail sales in Japan increased 1.7% year-on-year in October 2025, accelerating from a downwardly revised 0.2% rise in the previous month.
Japan’s industrial production rose 1.4% month-over-month in October 2025, easing from a 2.6% gain in the previous month.
