Daily FX Trends - Mecklai Financial

Daily FX Trends - Commentaries

	USD/INR	EURO/USD	GBP/USD	USD/JPY	USD/CHF
Macro Support-Resistance Levels	86.50-89.00	1.1400-1.1900	1.3000-1.3900	142.00-158.00	0.7800-0.8300
Sentiment against USD	Neutral	Negative	Negative	Negative	Neutral
Forecast for the day	88.35-88.85	1.1475-1.1575	1.3070-1.3150	152.50-153.35	0.8050-0.8090

Spot rupee ended at 88.66/67 to a dollar level after opening at 88.67/68 level. The rupee traded near 88.70 level for most part of the day. Equity market benchmarks recovered from steep losses in early trade and ended flat.
DXY is trading higher at 99.82 level. Dollar is trading slightly lower as expectations of Fed rate cut is increasing, while stock market meltdown in US overnight is affecting sentiment.
Meanwhile, EURUSD is trading steady at 1.1535 level. Data from Germany showed trade surplus narrowed to EUR 15.3 billion in September 2025, down from a downwardly revised EUR 16.9 billion in August and below market expectations of EUR 16.8 billion. This marked the smallest trade surplus since October 2024, as exports rose slightly less than imports.
There are no major data releases from the US tonight.
Important data releases scheduled today: US: UoM Prelim Consumer sentiment; Inflation expectations.

Rupee opened flat at 88.66 levels as market sentiment remains cautious, with the dollar showing mixed signals after US job cuts surged in October while Treasury yields dipped slightly. Equity markets are trading flat in early sessions, reflecting a waiting stance among investors amid ongoing global economic uncertainties.

DXY is trading lower at 99.79 levels. Dollar eased its grip against other currencies overnight after data showed Job cuts in the US jumped 183 in October compared to the previous month, according to a Challenger, Gray & Christmas Inc. The 10Y Treasury yield is lower at 4.0940 compared with 4.15 on Wednesday.

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