Sell USDINR OCT @ 96.6 SL 96.8 TGT 96.4-96.2 - Kedia Advisory
USDINR
SELL USDINR OCT @ 96.6 SL 96.8 TGT 96.4-96.2.
Observations
USDINR trading range for the day is 96.47-96.73.
Rupee weakened, hovering near record lows as a stronger US dollar, elevated US Treasury yields and high oil prices increased dollar demand.
India Services PMI was revised lower to 55.2 in September 2026 from the preliminary estimate of 55.8, after a final reading of 54.1 in the previous month.
India’s HSBC Composite PMI stood at 55.9 in September 2026, down from a flash reading of 56.6 but up from 54.6 in the previous month.
EURINR
SELL EURINR OCT @ 108.9 SL 109.2 TGT 108.6-108.3.
Observations
EURINR trading range for the day is 108.25-109.25.
Euro gained as global risk sentiment improved despite concerns about elevated bond yields
Euro zone business activity expanded at its fastest pace in nearly 3-1/2 years in September as demand remained strong.
Investor morale in the euro zone fell to 2.7 in October, as easing expectations cast doubt on a possible economic upturn.
GBPINR
SELL GBPINR OCT @ 128.1 SL 128.4 TGT 127.8-127.5.
Observations
GBPINR trading range for the day is 127.49-128.45.
GBP gained buoyed by the British government's commitment to fiscal discipline and a more constructive approach to the European Union.
Bank of England Governor Andrew Bailey and Deputy Governor Dave Ramsden supported expectations for tighter monetary policy.
UK economy grew faster than previously expected in the second quarter, cementing expectations for an interest rate hike by BOE by the end of this year
JPYINR
SELL JPYINR OCT @ 61.3 SL 61.5 TGT 61.1-60.9.
Observations
JPYINR trading range for the day is 20.42-20.42.
JPY steadied as PM Takaichi pushed forward with expansionary fiscal policies despite concerns over the weak currency and government funding.
Investors awaited a series of economic reports due this week, including August data on wages, the current account and household spending
BOJ summary showed growing concern about inflation exceeding the central bank’s 2% target, raising the possibility of another rate hike this year.
