• By Goodwill
  • 84 Comments
  • July 27, 2023

FX – MORNING UPDATE :

USDINR opened at 81.89 y’day and the pair traded in the 81.87-82.03 range. Spot USDINR closed at 81.99, gain of 13 ps for USD as against prior close of 81.86.

RBI reference rate was fixed at 81.98 on 26/07July USD/INR closed at 82.03, gain of 14 ps for USD as compared to prior day’s close of 81.89. July Euro/INR closed at 90.48, GBP/INR at 105.01 and Yen/INR at 57.90. 1 year USDINR fwd premia was trading at around 1.68% p.a.  FX reserves climbed USD 12 bn last week as compared to prior week and stood at USD 609 bn as on July 14 th.

PAIRS RBI REF RATE (26/07)
USDINR 81.98
EURINR 90.71
GBPINR 105.74
JPYINR 58.29

In July ,FPI’S have bought Rs 43804 Cr of Equities and bought Rs 705 Cr of debt . In 2022-23 fiscal year, FII’S have net sold Rs 27593 Cr of Equities and have net bought Rs 838 Cr of debt.

Benchmark Nifty climbed 97 points (0.50%) y’day. US S&P closed flat (0%) . Nikkei climbed 0.01% and Hang seng declined 0.35% y’day

Euro is now at 1.1077, Pound at 1.2829, Yen at 141.37.

Commodities: Gold is now at USD 1963 and WT1Crude at USD 79/Brent at USD 83.

Interest rates: USD 10 Yr yield is at 3.87% and 3 m libor closed at 5.55%. Indian 10 yr benchmark yield closed at 7.09%.

Economic news: Fed hiked rates by 25 bps and left the door open for Sept rate hike. US economy grew faster than expected in the first quarter; the labor market cooled in June; and inflation slowed more than expected. Fed staff does not project recession. Fed Chairman does not expect inflation to come down to 2% till 2025. Fed Chief reiterated it remains watchful over incoming economic data to “assess the appropriate stance of monetary policy.”The real Fed funds rate, which adjusts for near term inflation expectations, is now in “meaningfully positive territory,” Powell said, adding that he continues to believe that the U.S. can avoid a recession. 

Focus now shifts to ECB policy.

Data highlights: US New home sales declined to 697k.

Thursday’s calendar : – US Weekly jobless claims, durables order and pending home sales.

-ECB meeting.

USD/INR    82.03 81.87
EUR/USD

1.1091

1.1107 1.1037
GBP/USD

1.2948

1.2961 1.2875
USD/JPY

140.22

141.19 139.94

Daily Support/Resistance table

Currency Pairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.1074 1.1111 1.1144 1.1181 1.1041 1.1004 1.0971
GBP/USD 1.2921 1.2967 1.3007 1.3053 1.2881 1.2835 1.2795
USD/JPY 140.50 141.06 141.75 142.31 139.81 139.25 138.56
USD/INR 81.96 82.05 82.12   81.89 81.80  

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Currency Pair Supports Resistances Trend Remarks
EURO/USD 1.1010/1.0935 1.1275/1.1345 UP SIDE<1.1010
GBP/USD 1.2680 1.3420 UP SIDE<1.2680
USD/JPY 137.35/135.50 145.10 UP DN<137.45
USD/INR 81.67 82.20 SIDE DN<81.87
USD/CHF 0.8565/0.8440 0.8820 DN SIDE>0.8820

Technicals: Spot closed below 50 and 200 day moving averages.20 day moving average is at 82.14. 50 day moving average is at 82.29.200 day moving average is at 82.21. Daily MACD is in sell zone. Important support is at 81.67 and important resistance is at 81.94/82.20. Spot closed above the average level of the day.

Intraday supports and resistances for July contract are:

PP: 81.98, S1:81.92, S2:81.82, R1:82.08, R2:82.14.             

Hedging strategy: Hedging decisions be taken according to comfort and accounting rates.

However on directional basis, suggest the following:

USD imports be hedged at 81.85/81.75.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is above major moving averages. Major resistance is at 1.1275/1.1340. Next major support is at 1.1015.. Daily MACD is in sell zone, implying an important top at 1.1275. Weekly MACD is in buy zone, implying important bottom at 1.0635.

GBP/USD: The pair is above 50,100 and 200 day moving averages . Daily MACD is in sell zone, implying important top at 1.3145 and weekly MACD is in buy zone, implying important bottom at 1.1803. Important supports are at 1.2680/1.2590. Important resistance is at 1.3145.

USD/YEN: The pair is above 50 and 200 day major averages. Daily MACD is in buy zone, implying important bottom at 137.35. Important resistance is at 145 and support is at 137.50.

Click to open an Account : https://ekyc.gwcindia.in/client/

For all your investment needs feel free to reach us.

Give us Missed Call us on 90037 90027 . For Support : 044-40329999

Comments

  1. Vfvhiv
    January 13, 2024

    antihistamine nasal spray canada allegra 120mg ca zyrtec canada over the counter

  2. Blyrwv
    January 28, 2024

    synthroid 75mcg generic synthroid us purchase levothyroxine for sale

  3. 에그벳슬롯
    January 30, 2024

    kinoboomhd.com
    그래서 그는 알현을 위해 타타르인을 궁전으로 데려갔고, 저녁에 낙담한 채 돌아왔습니다.

  4. 에그카지노
    January 30, 2024

    amruthaborewells.com
    이것은 무엇을 의미 하는가? 사람을 때리는 것은 잘못된 것이므로 다음 문장은 무엇입니까?

  5. Bypwaf
    February 1, 2024

    buy generic prednisone online deltasone pill buy prednisone 20mg generic

  6. 소닉카지노
    February 2, 2024

    modernkarachi.com
    Fang Jifan은 도울 수 없었지만 말했습니다. “Shibo는 … 도시를 떠나고 싶지 않습니까?”

  7. Zvlhob
    February 3, 2024

    where to buy accutane without a prescription accutane usa isotretinoin 10mg us

  8. 온라인 슬롯
    February 3, 2024

    socialmediatric.com
    Zhu Zaimo는 차갑게 말했습니다. “그럼 그 네 살짜리 아이를 죽였나요?”

  9. 소닉카지노링크
    February 5, 2024

    this-is-a-small-world.com
    “하지만…” Fang Jifan은 자신을 변호하는 것처럼 보였습니다.

  10. Cteucz
    February 7, 2024

    order synthroid 75mcg pills levothroid us synthroid 75mcg us

  11. 에그벳 주소
    February 8, 2024

    netovideo.com
    Fang Jifan에서 수많은 살인적인 눈이 쏜 것 같았습니다.

  12. 소닉카지노사이트
    February 8, 2024

    saungsantoso.com
    그는 앞으로 나아가 Fang Jifan의 세 번째 논문을 읽었습니다.

  13. 소닉카지노사이트
    February 11, 2024

    this-is-a-small-world.com
    Jin Zhengxing은 감히 동의를 거부하여 누군가 서재의 4 가지 보물을 가져 왔습니다.

  14. 온라인슬롯사이트
    February 12, 2024

    doeaccforum.com
    그래서 석유 램프 아래에서 Zhou Tanzhi는 계속해서 글을 썼습니다.

  15. Mvnxxu
    February 15, 2024

    order generic lyrica 150mg pregabalin price how to get lyrica without a prescription

  16. 소닉카지노 링크
    February 16, 2024

    chasemusik.com
    학생은 양철 트럼펫을 들고 말했습니다. “성인이 여기 있습니다. 무엇을 해야할지 아십니까?”

  17. ???소닉카지노 사이트
    February 19, 2024

    agonaga.com
    Hongzhi 황제의 촉구로 Fang Jifan은 군중을 돼지 우리로 인도 할 수밖에 없었습니다.

  18. 소닉카지노링크
    February 22, 2024

    hihouse420.com
    Hongzhi 황제의 손가락은 거대한 섬의 중심을 가리키고 그의 눈은 오랫동안 움직이지 않았습니다.

  19. 에그벳 슬롯
    February 23, 2024

    yangsfitness.com
    어떤 사람들은 칭화에 머물면서 명나라 군대가 오기를 기다렸다가 그들과 단호히 싸워야 한다고 생각합니다.

  20. lfchungary.com
    February 24, 2024

    lfchungary.com
    Shen Wendao: “장관이 당신에게 감사를 표하기 위해 왔지만 지금은 정말 불편합니다.”

  21. Tivihb
    February 25, 2024

    order zestril 2.5mg zestril cost order prinivil for sale

  22. ???소닉카지노 사이트
    February 25, 2024

    sm-casino1.com
    Fang Jifan은 진정하고 응원을 도울 수 없었습니다.

  23. 슬롯사이트
    February 28, 2024

    yangsfitness.com
    아마도…모든 질병에 대한 진정한 만병통치약?

  24. smcasino-game.com
    February 28, 2024

    hihouse420.com
    그 화난 목소리는 “노인은 집에 가고 싶어… 집에 가고 싶어…”라고 말했습니다.

  25. pragmatic-ko.com
    February 29, 2024

    lfchungary.com
    물론 이 과정이 항상 조화로운 것은 아니다.

  26. pragmatic-ko.com
    March 2, 2024

    lfchungary.com
    Fang Jifan은 웃으며시를 읽으려고했지만 Xiao Xiangxiang이 눈물을 흘리는 것을 발견했습니다.

  27. smcasino-game.com
    March 2, 2024

    sm-casino1.com
    마침내 모두의 초조한 기다림 속에 주호우자오와 팡지판이 늦게 왔다.

Leave a Reply

Your email address will not be published. Required fields are marked *