• By Goodwill
  • 121 Comments
  • October 16, 2023

FX – MORNING UPDATE :

USDINR opened at 83.23 on Friday and the pair traded in the 83.21-83.30 range. Spot USDINR closed at 83.28, gain of 5 ps for USD as against prior close of 83.23.

RBI reference rate was fixed at 83.25 on 13/10Oct USD/INR closed at 83.31, gain of 2 ps for USD as compared to prior day’s close of 83.29. Oct Euro/INR closed at 87.74, GBP/INR at 101.50 and Yen/INR at 55.88. 1 year USDINR fwd premia was trading at around 1.72% p.a.  FX reserves declined by USD 3 bn and stood at USD 584 bn as on Oct 6 th.

PAIRS

RBI REF RATE (13/10)

USDINR

83.25

EURINR

87.76

GBPINR

101.52

JPYINR

55.60

In Oct, FPI’S have sold Rs 6916 Cr of Equities and bought Rs 3146 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 declined 43 points (0.22%) on Friday. US S&P declined 21 points (0.50%) . Nikkei declined 0.61% and Hang Seng declined 2.73%.

Euro is now at 1.0510, Pound at 1.2144, Yen at 149.57.

Commodities: Gold is now at USD 1932 and WT1Crude at USD 87/Brent at USD 91.

Interest rates: USD 10 Yr yield is at 4.61% and 3 m libor closed at 5.65%. Indian 10 yr benchmark yield closed at 7.32%.

Economic news: Safe haven assets like Gold soared on Middle East tension. Oil climbed past USD 90. Equity markets steered clear of any big decline despite deep worries. Higher inflation is persistent and looks threatened again by Oil prices. Fed rate expectations and how long will higher rates be maintained seems to weigh down on Crosses and Equities. Though economic data is pivotal, it may be temporarily overshadowed by expansion of conflict in Middle East.

Fed officials have been increasingly vocal about the impact of soaring treasury yields, suggesting that their ascent could reduce the need for further monetary tightening.

Data highlights: – EU industrial production climbed 0.6% m/m.

Monday’s calendar : No major data release.

USD/INR

 

 

 83.30

83.22

EUR/USD

1.0510

 

1.0558

1.0495

GBP/USD

1.2144

 

1.2226

1.2122

USD/JPY

149.57

 

149.83

149.45

Daily Support/Resistance table

Currency Pairs

Pivot

R1

R2

R3

S1

S2

S3

EURO/USD

1.0521

1.0547

1.0584

 

1.0484

1.0458

 

GBP/USD

1.2164

1.2206

1.2268

 

1.2102

1.2060

 

USD/JPY

149.61

149.78

149.99

 

149.39

149.13

 

USD/INR

83.26

83.31

83.34

 

83.22

83.18

 

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Currency Pair

Supports

Resistances

Trend

Remarks

EURO/USD

1.0450/1.0250

1.0630/1.0740

DN

SIDE>1.0740

GBP/USD

1.2040/1.18

1.2330/1.2440/1.25

SIDE

DN<1.2110

USD/JPY

147.50/146.50

150

UP

SIDE<146.50

USD/INR

83.10/82.80

83.35/83.47

UP

SIDE<82.78

USD/CHF

0.9025/0.89

0.9250/0.9450

UP

SIDE<0.89

Technicals: Spot closed above 50 and 200 day moving averages.20 day moving average is at 83.18. 50 day moving average is at 82.99.200 day moving average is at 82.43. Daily MACD is in sell zone. Important support is at 83.10/82.80 and important resistance is at 83.35. Spot closed above the average level of the day.

Intraday supports and resistances for Oct contract are:

PP: 83.30, S1:83.27, S2:83.23, R1:83.34, R2:83.37.             

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

However on directional basis, suggest the following:

USD exports be hedged at 83.30/83.50. Imports be hedged at 83.10 for 3 months.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is below major moving averages. Major resistance is at 1.0740/1.0945. Next major support is at 1.0450/1.0250. Daily MACD is in buy zone, implying an important bottom at 1.0450. Weekly MACD is in sell zone, implying important top at 1.1275.

GBP/USD: The pair is below 50 and 200 day averages. Daily MACD is in buy zone, implying important bottom at 1.2035 and weekly MACD is in sell zone, implying important top at 1.3145. Important support is at 1.2035/1.18. Important resistance is at 1.2330/1.2440.

USD/YEN: The pair is above 50 and 200 day major averages. Daily MACD is in sell zone, implying important top at 150.20. Important resistance is at 150.20 and support is at 147.50/146.50.

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. RichardCok
    November 20, 2023

    Kamagra Oral Jelly [url=http://kamagra.team/#]Kamagra 100mg price[/url] Kamagra 100mg price

  2. TimothyMes
    November 21, 2023

    super kamagra: buy Kamagra – п»їkamagra

  3. RichardCok
    November 21, 2023

    cheap generic tadalafil [url=http://tadalafil.trade/#]tadalafil online australia[/url] tadalafil cheap

  4. RichardCok
    November 22, 2023

    tadalafil in india online [url=http://tadalafil.trade/#]buy tadalafil in usa[/url] generic tadalafil in canada

  5. RichardCok
    November 23, 2023

    generic sildenafil 20mg cost [url=https://sildenafil.win/#]sildenafil online usa[/url] buy sildenafil tablets online

  6. Charleskag
    November 23, 2023

    lisinopril average cost [url=https://lisinopril.auction/#]lisinopril 120mg[/url] lisinopril metoprolol

  7. Scottanelo
    November 24, 2023

    zithromax online usa no prescription: zithromax antibiotic – zithromax 500 mg lowest price online

  8. Charleskag
    November 24, 2023

    cipro [url=http://ciprofloxacin.men/#]buy ciprofloxacin over the counter[/url] buy ciprofloxacin

  9. VernonBor
    November 24, 2023

    amoxicillin 500mg prescription: amoxil for sale – generic amoxicillin over the counter

  10. Charleskag
    November 25, 2023

    zithromax online [url=https://azithromycin.bar/#]zithromax antibiotic without prescription[/url] zithromax buy

  11. Charleskag
    November 26, 2023

    amoxicillin price without insurance [url=http://amoxicillin.best/#]purchase amoxicillin online[/url] amoxicillin online canada

  12. Charleskag
    November 26, 2023

    ciprofloxacin mail online [url=https://ciprofloxacin.men/#]buy generic ciprofloxacin[/url] buy ciprofloxacin

  13. DanielIdowl
    November 28, 2023

    on line pharmacy with no perscriptions [url=http://ordermedicationonline.pro/#]cheap drugs online[/url] top rated online pharmacies

  14. RichardIcold
    November 28, 2023

    reputable online pharmacy: online meds – online pharmacy with no prescription

  15. Gaza and its Resistance to Israel’s Brutal Attacks
    November 29, 2023

    Great information shared.. really enjoyed reading this post thank you author for sharing this post .. appreciated

  16. Michaelvam
    November 30, 2023

    buy clomid without prescription: Buy Clomid Online – where buy generic clomid without a prescription

  17. TerryLiemy
    December 3, 2023

    comprare farmaci online all’estero [url=http://kamagrait.club/#]kamagra oral jelly[/url] п»їfarmacia online migliore

  18. TracyHaf
    December 4, 2023

    farmacia online migliore: kamagra – farmacia online miglior prezzo

  19. TerryLiemy
    December 4, 2023

    acquisto farmaci con ricetta [url=http://avanafilit.icu/#]avanafil generico[/url] farmacia online

  20. TracyHaf
    December 4, 2023

    viagra consegna in 24 ore pagamento alla consegna: sildenafil 100mg prezzo – pillole per erezione immediata

  21. TracyHaf
    December 4, 2023

    farmacie on line spedizione gratuita: kamagra – farmacia online senza ricetta

  22. TracyHaf
    December 5, 2023

    farmacie online sicure: kamagra oral jelly – comprare farmaci online con ricetta

  23. TracyHaf
    December 5, 2023

    farmacia online: avanafil spedra – farmacie on line spedizione gratuita

  24. TerryLiemy
    December 5, 2023

    viagra naturale [url=https://sildenafilit.bid/#]viagra online spedizione gratuita[/url] viagra pfizer 25mg prezzo

  25. TracyHaf
    December 6, 2023

    farmacia online più conveniente: kamagra gel prezzo – migliori farmacie online 2023

  26. TracyHaf
    December 6, 2023

    farmacia online migliore: cialis generico – farmacia online migliore

  27. TerryLiemy
    December 6, 2023

    migliori farmacie online 2023 [url=http://kamagrait.club/#]kamagra oral jelly[/url] farmaci senza ricetta elenco

  28. TracyHaf
    December 6, 2023

    alternativa al viagra senza ricetta in farmacia: viagra naturale – miglior sito dove acquistare viagra

  29. TracyHaf
    December 6, 2023

    farmacia online senza ricetta: kamagra oral jelly – farmacia online miglior prezzo

  30. TerryLiemy
    December 7, 2023

    comprare farmaci online con ricetta [url=http://tadalafilit.store/#]Tadalafil generico[/url] comprare farmaci online con ricetta

  31. TracyHaf
    December 7, 2023

    farmacie on line spedizione gratuita: kamagra gel prezzo – acquistare farmaci senza ricetta

  32. TracyHaf
    December 7, 2023

    migliori farmacie online 2023: kamagra gold – migliori farmacie online 2023

  33. TracyHaf
    December 7, 2023

    pillole per erezione in farmacia senza ricetta: viagra online siti sicuri – viagra consegna in 24 ore pagamento alla consegna

  34. Eddieblula
    December 7, 2023

    farmacia online envГ­o gratis [url=https://vardenafilo.icu/#]Comprar Levitra Sin Receta En Espana[/url] farmacia online barata

  35. Eddieblula
    December 8, 2023

    viagra para hombre precio farmacias [url=http://sildenafilo.store/#]viagra generico[/url] sildenafilo 100mg sin receta

Leave a Reply

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