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USDINR

SELL USDINR OCT @ 87.95 SL 88.1 TGT 87.8-87.7.

Observations

USDINR trading range for the day is 87.77-88.03.

Rupee ended higher, as inflows into local shares and dollar-selling by state-run banks offset importer demand.

India's core growth loses steam, slows to 3% in Sept

India's retail inflation is projected to fall further by October 2025, driven by a high base effect and delayed food price seasonality.

EURINR

SELL EURINR OCT @ 101.7 SL 107.5 TGT 102-102.2.

Observations

EURINR trading range for the day is 101.6-102.3.

Euro dropped as investors turned their attention to a series of European Central Bank speeches this week for clues on the policy outlook.

The US dollar found modest support from renewed optimism over US–China trade relations.

S&P cut France’s sovereign rating to A+ from AA-, citing heightened risks to fiscal consolidation and persistent uncertainty surrounding government finances.

GBPINR

SELL GBPINR OCT @ 117.4 SL 117.7 TGT 117.1-116.8.

Observations

GBPINR trading range for the day is 117.02-117.62.

GBP dropped after inflation data came in below market expectations, fueling speculation of early interest rate cuts by the Bank of England

Headline inflation held steady at 3.8% in September, defying forecasts of a rise to 4%, as food price growth continued to ease.

Government borrowing, totaled £99.8 billion in the first half of the fiscal year—£7.2 billion above the OBR’s forecast.

JPYINR

SELL JPYINR OCT @ 57.8 SL 58 TGT 57.6-57.4.

Observations

JPYINR trading range for the day is 57.34-58.14.

JPY weakened amid growing speculation that new Prime Minister Takaichi will unveil a large-scale stimulus package as early as next month.

Reports indicated the plan could exceed last year’s 13.9 trillion yen initiative aimed at easing inflation pressures on households.

The Bank of Japan is widely anticipated to keep rates unchanged next week, with markets now projecting the next hike in January.