Sell USDINR Nov @ 88.65 SL 88.75 TGT 88.5-88.4 - Kedia Advisory
USDINR
SELL USDINR NOV @ 88.65 SL 88.75 TGT 88.5-88.4.
Observations
USDINR trading range for the day is 88.54-88.78.
Rupee ends flat as inflows, state-bank dollar sales offset weak global cues
As of October, India's unemployment rate remained stable at 5.2%, with significant shifts in the job market
Initial jobless claims in the US totaled 232,000, remaining firmly above the averages from the period since the end of the second quarter.
EURINR
SELL EURINR NOV @ 102.8 SL 103.1 TGT 102.5-102.2.
Observations
EURINR trading range for the day is 102.58-103.04.
Euro dropped with investors awaiting ECB speeches and key US economic data delayed by the government shutdown.
The European Commission has upgraded its growth forecast for the Eurozone economy in 2025 to 1.3%, up from 0.9% projected in its spring forecasts.
The EC noted that economic activity exceeded expectations in the first nine months of the year, supported by a surge in exports to the US.
GBPINR
SELL GBPINR NOV @ 116.6 SL 116.9 TGT 116.3-116.
Observations
GBPINR trading range for the day is 116.21-116.87.
GBP dropped as investors grew concerned about the country’s fiscal sustainability.
The UK economy expanded 1.3% year-on-year in Q3 2025, down from 1.4% in Q2 and slightly below the market forecast of 1.4%.
Markets pared bets on BOE rate cuts, with about 75% probability for a December move.
JPYINR
SELL JPYINR NOV @ 57.25 SL 57.5 TGT 57-56.8.
Observations
JPYINR trading range for the day is 57.02-57.48.
JPY dropped as investors weighed the impact of potential large-scale fiscal stimulus under Prime Minister Sanae Takaichi.
Data showed the nation’s economy shrank 1.8% in Q3, although smaller than expected, this marked the first contraction in six quarters.
Markets speculated the BOJ may delay rate hikes as Takaichi is expected to advocate caution while advancing a larger-than-expected fiscal package.
