Sell USDINR Oct @ 88.95 SL 89.05 TGT 88.8-88.7 - Kedia Advisory
USDINR
SELL USDINR OCT @ 88.95 SL 89.05 TGT 88.8-88.7.
Observations
USDINR trading range for the day is 88.78-88.92.
Rupee ended nearly unchanged as traders held off fresh wagers on expectations of inflows and frequent interventions by RBI.
The World Bank raised India’s FY26 growth forecast to 6.5% from 6.3%, while trimming FY27 to 6.3%, citing higher US tariffs.
India's services sector growth cooled in September to 60.9, down from August's 15-year high.
EURINR
SELL EURINR OCT @ 103.4 SL 103.7 TGT 103-102.7.
Observations
EURINR trading range for the day is 103.47-104.47.
Euro slipped weighed down by renewed political uncertainty in France and a lack of fresh developments from the United States.
German factory orders fell 0.8% in August, missing forecasts for a 1.4% gain and marking the fourth consecutive monthly decline.
France’s trade deficit narrowed less than expected, as steady exports were offset by a sharper pullback in imports
GBPINR
SELL GBPINR OCT @ 119.4 SL 119.7 TGT 119-118.7.
Observations
GBPINR trading range for the day is 118.7-120.28.
GBP dropped as the safe-haven demand of the US Dollar increases due to political jolts in Japan and France.
All eyes are on the speeches of several Fed officials as the bank is expected to cut interest rates two more times this year.
Investors await BoE Pill’s speech due Wednesday for fresh cues on the monetary policy outlook.
JPYINR
SELL JPYINR OCT @ 59.5 SL 59.7 TGT 59.3-59.
Observations
JPYINR trading range for the day is 59.04-59.72.
JPY dropped after fiscal dove and pro-stimulus lawmaker Sanae Takaichi won the ruling Liberal Democratic Party leadership race.
Bank of Japan Governor Kazuo Ueda reiterated that the central bank would resume rate hikes if growth and inflation progress as projected.
Japan’s foreign reserves rose by $17.1 billion to $1.34 trillion in September 2025, marking the highest level since March 2022.
