Sell Usdinr Nov @ 88.8 SL 88.9 TGT 88.7-88.6 - Kedia Advisory
USDINR
SELL USDINR NOV @ 88.8 SL 88.9 TGT 88.7-88.6.
Observations
USDINR trading range for the day is 88.63-88.85.
Rupee in range as the Reserve Bank continued its regular interventions to curb excessive volatility.
India's services sector saw a slowdown in October, reaching a five-month low.
Signs of cooling job market have slightly boosted expectations of another interest rate cut by Fed in the December meeting.
EURINR
SELL EURINR NOV @ 102.6 SL 102.9 TGT 102.3-102.
Observations
EURINR trading range for the day is 102.25-102.85.
Euro steadied as investors weighed diverging policy outlooks between the European Central Bank and the US Federal Reserve.
ECB is comfortable with the current level of interest rates and considers any inflation dip below 2% to be temporary, Luis de Guindos said
ECB is expected to keep rates unchanged for some time, with money markets now pricing only a 45% chance of a rate cut by September 2026.
GBPINR
SELL GBPINR NOV @ 116.6 SL 116.9 TGT 116.3-116.
Observations
GBPINR trading range for the day is 116.02-116.68.
GBP recovers as BOE held rates unchanged, on a 'dovish' hold as the vote split hints that the December meeting is open.
BoE said that the risk of persistent inflation has diminished, while downside risks from weaker demand have become more apparent.
BoE Governor Bailey welcomed the September inflation figure, which held steady, but warned that it was just one series and that further data is needed.
JPYINR
SELL JPYINR NOV @ 58.2 SL 58.4 TGT 58-58.8.
Observations
JPYINR trading range for the day is 57.93-58.33.
JPY gains as a broad risk-off wave, triggered by mounting concerns over stretched AI valuations.
JPY also drew support from a weaker dollar after signs of a cooling US labor market strengthened expectations for a near-term Fed rate cut.
Household spending in Japan rose 1.8% yoy in September 2025, easing from a 2.3% growth in the prior month.
