Sell USDINR OCT @ 96.1 SL 96.3 TGT 95.9-95.7 - Kedia Advisory
USDINR
SELL USDINR OCT @ 96.1 SL 96.3 TGT 95.9-95.7.
Observations
USDINR trading range for the day is 95.47-96.75.
Rupee surged after the central bank alleviated pressure on the currency by diverting oil companies’ dollar purchases away from the spot market.
India's foreign exchange reserves have dropped by $12.95 billion to $734.60 billion as of October 2.
India's services sector is expected to maintain a positive demand outlook in Q3FY27, although business optimism has moderated
EURINR
SELL EURINR OCT @ 108 SL 108.3 TGT 107.7-107.4.
Observations
EURINR trading range for the day is 107.54-108.5.
Euro dropped as investors weighed France’s record-high debt and political challenges to implementing budget cuts against the resilience of the US economy.
France’s budget plans for 2027 aim to reduce the fiscal deficit to 5% of GDP.
Eurozone central bankers are scheduled to deliver speeches during the IMF-World Bank annual meetings in Bangkok this week.
GBPINR
SELL GBPINR OCT @ 127.25 SL 127.6 TGT 126.9-126.6.
Observations
GBPINR trading range for the day is 126.88-127.68.
GBP dropped amid Rupee firmness and investors weighed hawkish remarks from Bank of England policymakers.
BoE Pill stressed the need to keep inflation under control, while Greene warned that UK wage growth could reach around 3.5% in 2027.
Governor Andrew Bailey reiterated the importance of bringing inflation down. Markets are pricing in a BoE rate hike in November
JPYINR
SELL JPYINR OCT @ 60.6 SL 60.8 TGT 60.4-60.2.
Observations
JPYINR trading range for the day is 60.33-61.17.
JPY dropped amid Rupee firmness after support seen as current account surplus increased to 4.062 trillion yen in August
Japan’s current account surplus rose to JPY 4,062.0 billion in August 2026 from JPY 3,628.1 billion in the same month a year earlier.
BOJ’s Sato, said that she supported a gradual approach to raising interest rates in multiple stages
