SELL USDINR OCT @ 87.95 SL 88.1 TGT 87.8-87.7 Kedia Advisory
USDINR
SELL USDINR OCT @ 87.95 SL 88.1 TGT 87.8-87.7
Observations
USDINR trading range for the day is 87.62-88.18.
Rupee hovering near a one-month high, as traders weighed the aftereffects of last week’s
aggressive RBI interventions.
US President Trump warns that tariffs will remain on Indian imports unless they halt buying oil
from Russia.
India's foreign exchange reserves dipped to $697.78 billion as of October 10, a slight decrease
from $699.96 billion the previous week
EURINR
SELL EURINR OCT @ 102.6 SL 102.9 TGT 102.3-102.
Observations
EURINR trading range for the day is 102.34-103.
Euro dropped as investors weighed the impact of S&P Global Ratings’ downgrade of France
against improving global risk sentiment.
S&P cut France’s sovereign rating to A+ from AA-, citing heightened risks to fiscal consolidation
and persistent uncertainty surrounding government finances.
Investors are awaiting the delayed US inflation data due Friday for further insight into the
Federal Reserve’s rate-cut trajectory.
GBPINR
SELL GBPINR OCT @ 118 SL 118.3 TGT 117.7-117.4.
Observations
GBPINR trading range for the day is 117.49-118.67.
GBP dropped as disappointing UK employment details fueled speculations that the BoE could
continue cutting rates gradually.
Worries about the UK’s fiscal outlook ahead of the crucial Autumn budget in November act as
a headwind
The UK economy grew 0.1% in August, rebounding from a 0.1% contraction in July.
JPYINR
SELL JPYINR OCT @ 58.5 SL 58.8 TGT 58.2-58.
Observations
JPYINR trading range for the day is 58.05-59.11.
JPY weakened as investors prepared for Japan’s leadership vote on Tuesday that will decide
the country’s next prime minister.
Sentiment was shaped by news that the ruling Liberal Democratic Party and the Japan
Innovation Party agreed to form a coalition government.
Investors also looked ahead to Bank of Japan meeting, where policymakers are widely
expected to keep rates unchanged.
