Sell USDINR Dec @ 89.75 SL 89.9 TGT 89.6-89.5. - Kedia Advisory
USDINR
SELL USDINR DEC @ 89.75 SL 89.9 TGT 89.6-89.5.
Observations
USDINR trading range for the day is 89.33-90.13.
Rupee dropped to all time low nearing 90 level with consistent foreign outflows offsetting the impact of robust India’s Q3 GDP growth.
The HSBC India Manufacturing PMI eased to 56.6 in November 2025, revised down from initial estimates of 57.4 and October’s 59.2.
The Indian gross domestic product expanded by 8.2% from the previous year in the September quarter of 2025.
EURINR
SELL EURINR DEC @ 104.5 SL 104.8 TGT 104.2-104.
Observations
EURINR trading range for the day is 103.69-104.87.
Euro gains as investors adopted a cautious stance ahead of key Eurozone and US economic data that could influence interest rate expectations.
ECB Vice President Luis de Guindos said that the current level of interest rates is appropriate.
The HCOB Germany Manufacturing PMI fell to 48.2 in November 2025, down from 49.6 in October.
GBPINR
SELL GBPINR DEC @ 118.7 SL 119 TGT 118.4-118.2.
Observations
GBPINR trading range for the day is 118.27-119.03.
GBP gains in a sign of relief among investors after British finance minister Rachel Reeves revealed her long-awaited budget.
The S&P Global UK Manufacturing PMI rose to 50.2 in November 2025 from 49.7 in October, confirming preliminary estimates.
Net borrowing of consumer credit by individuals in the UK decreased for the second consecutive month to £1.1 billion in October 2025, the lowest in five months.
JPYINR
SELL JPYINR DEC @ 57.9 SL 58.1 TGT 57.7-57.5.
Observations
JPYINR trading range for the day is 56.85-59.75.
JPY gains supported by increasing expectations of a policy rate hike from the Bank of Japan.
The S&P Global Japan Manufacturing PMI was revised slightly lower to 48.7 in November 2025 from 48.8 in the preliminary estimates.
Japanese companies increased capital spending by 2.9% in Q3 2025, sharply slowing from 7.6% in the previous period.
