USDINR opened at 69.81 y’day and the pair traded in the 69.62-69.86 range. Spot USDINR closed at 69.70 y’day, loss of 20 ps for USD as against prior close of 69.90. RBI reference rate was fixed at 69.83 on Monday. June USD/INR closed at 69.76, loss of 24ps for USD as compared to prior day’s close of 70. June Euro/INR closed at 78.18, GBP/INR at 87.42 and Yen/INR at 64.46.
FII’S have nett bought Rs 339 Cr of Indian Equities in June . FII’S have nett bought Rs 78223 Cr of Indian Equities in this calendar Year till date. FII’S have nett bought Rs 6953 Cr of Indian debt securities in June. FII’S have nett bought Rs 9631 Cr of Indian debt in this calendar year till date.
Benchmark Nifty climbed 0.17% y’day. DOW climbed 333 points (1.28%) y’day. Nikkei declined 0.72% and Hang seng climbed 1 % y’day.
Euro is now at 1.1191 ,Pound at 1.2559,Yen at 108.38.
Commodities: Gold is now at USD 1343 and WT1Crude at USD 54.25/Brent at USD 62.16.
Interest rates: USD 10 Yr yield is at 2.06% and 3 m libor closed at 2.61%. Indian 10 yr benchmark yield closed at 6.93%.
Economic news: Global markets rallied as US President said that he will be holding trade talks with his Chinese counterpart at G-20 summit on June 20 th. Fed statement is due on Thursday morning. ECB Chief hinted at asset purchases or rate cut. Oil climbed and Euro declined on trade talk hopes.
Data highlights : — US building permits was at 1.29 mn and housing starts climbed to 1.27 mn.
-EU CPI climbed 1.2% y/y and German Zew sentiment declined to -21.1.
Wednesday’s calendar: – FOMC statement
-UK CPI, PPI(output) and RPI
| USD/INR | 69.86 | 69.62 | |
| EUR/USD | 1.1191 | 1.1247 | 1.1204 |
| GBP/USD | 1.2559 | 1.2605 | 1.2533 |
| USD/JPY | 108.38 | 108.73 | 108.51 |
Daily Support/Resistance table
| CurrencyPairs | Pivot | R1 | R2 | R3 | S1 | S2 | S3 |
| EURO/USD | 1.1208 | 1.1235 | 1.1270 | 1.1297 | 1.1173 | 1.1146 | 1.1111 |
| GBP/USD | 1.2548 | 1.2589 | 1.2611 | 1.2652 | 1.2526 | 1.2485 | 1.2463 |
| USD/JPY | 108.44
|
108.81 | 109.05 | 109.42
|
108.20 | 107.83 | 107.59
|
| USD/INR | 69.72 | 69.83 | 69.96 | 69.58 | 69.48 |
|
MAJOR SUPPORTS/RESISTANCES AND TREND TABLE
| Curency Pair | Supports | Resistances | Trend | Remarks |
| EURO/USD | 1.1110/1.0970/1.0840 | 1.1375 | SIDE | UP>1.1375 |
| GBP/USD | 1.2650 | 1.2865/1.3175 | DN | UP>1.30 |
| USD/JPY | 107.70 | 110.65 | DN | UP>110.85 |
| USD/INR | 69.45/69.25 | 70.06 | DN | UP>70.50 |
| USD/CHF | 0.9715 | 1.0050 | DN | UP >1.0080 |
Technicals: Spot closed between major moving averages. 20 day moving average is at 69.62. 50 day moving average is at 69.62.200 day moving average is at 70.85. Daily MACD is in buy zone, implying bottom at 69.06. Next support is at 69.06. Important resistance is at 70.06 and later at 70.50 .Spot closed below its average level of the day.
Intra day supports and resistances for June contract are:
PP: 69.80,S1:69.64, S2:69.54, R1:69.91, R2:70.06.
Hedging strategy for USD/INR: Hedging decisions be taken according to comfort and accounting rates.
CROSS CURRENCY TECHNICALS:
EURO/USD: The pair is below 200 day major moving average and hence bearish. Next Major resistance is at 1.1375. Major support is at 1.1110 and later at 1.0970. Daily MACD is in buy zone, implying an important bottom at 1.1106. Weekly MACD is in sell zone, implying important top at 1.1570.
GBP/USD: The pair is bearish and is trading below major moving averages.Daily MACD is in buy zone, implying important bottom at 1.2558 and weekly MACD is in sell zone, implying important top at 1.3385. Important resistance is at 1.2865. Important support is at 1.2560.
USD/YEN: The pair is below major moving averages. Daily MACD is in sell zone, implying important top at 112.40. Next important resistance is at 110.70 and later at 112.40. Important support is at 107.75.
