USDINR opened at 75.94 Y’day and the pair traded in the 75.92-76.15 range. Spot USDINR closed at 76.03 , gain of 19 ps for USD as against prior close of 75.84. RBI reference rate was fixed at 76.10 y’day. June USD/INR closed at 76.15, gain of 20 ps for USD as compared to prior day’s close of 75.95. June Euro/INR closed at 85.71, GBP/INR at 95.36 and Yen/INR at 70.94.
FII’S have nett bought Rs 21635 Cr of Indian Equities in June . FII’S have nett sold Rs 2193 Cr of Indian debt securities in June. In FY 19-20, FII’s have sold Rs 10200 Cr of Equities and 47393 cr of debt.
Benchmark Nifty declined 1.60% Y’day. DOW climbed 157 points (0.62%) Y’day. Nikkei declined 3.47% and Hang seng declined 2.16% y’day.
Euro is now at 1.1331,Pound at 1.2641,Yen at 107.35.
Commodities: Gold is now at USD 1738 and WT1Crude at USD 36.80/Brent at USD 39.40.
Interest rates: USD 10 Yr yield is at 0.73% and 3 m libor closed at 0.34%. Indian 10 yr benchmark yield closed at 5.79%.
Economic news: :- Fed announced tweaks to its bond buying program, widening the range of eligible assets to include all U.S. corporate bonds that satisfied certain criteria. This led to a late surge in US Equities.
Data highlights : US Ny mfrg index was reported at -0.2.
Tuesday’s calendar: US retail sales and industrial production
-EU Zew survey
-UK claimant count change and unemployment rate.
| USD/INR | 76.15 | 75.92 | |
| EUR/USD | 1.1331 | 1.1334 | 1.1226 |
| GBP/USD | 1.2641 | 1.2608 | 1.2454 |
| USD/JPY | 107.35 | 107.58 | 107 |
Daily Support/Resistance table
| CurrencyPairs | Pivot | R1 | R2 | R3 | S1 | S2 | S3 |
| EURO/USD | 1.1295 | 1.1364 | 1.1403 | 1.1472 | 1.1256 | 1.1187 | 1.1148 |
| GBP/USD | 1.2577 | 1.2699 | 1.2760 | 1.2882 | 1.2516 | 1.2394 | 1.2333 |
| USD/JPY | 107.33
|
107.66 | 107.83 | 108.15 | 107.16 | 106.83 | 106.66
|
| USD/INR | 76.03 | 76.14 | 76.26 | 75.91 | 75.80 |
MAJOR SUPPORTS/RESISTANCES AND TREND TABLE
| Curency Pair | Supports | Resistances | Trend | Remarks |
| EURO/USD | 1.1145/1.1020 | 1.1425 | UP | DN<1.0950 |
| GBP/USD | 1.24/1.2075 | 1.2810 | SIDE | UP>1.2810 |
| USD/JPY | 106 | 108.45/111.70 | UP | DN<108.45 |
| USD/INR | 75.65/75.25/75 | 76.10 | SIDE | UP>76.10 |
| USD/CHF | 0.94 | 0.9675/0.9775 | DN | UP>0.98 |
Technicals: Spot closed above 200 day moving average. 20 day moving average is at 75.68. 50 day moving average is at 75.83.200 day moving average is at 72.70. Daily MACD is in buy zone, implying bottom at 75.05. Important support is at 75.05/74.90. Spot closed at its average level of the day.
Intra day supports and resistances for June contract are:
PP:76.11,S1:75.97, S2:75.80, R1:76.28, R2: 76.42
Hedging strategy for USD/INR: Hedging decisions be taken according to comfort and accounting rates.
CROSS CURRENCY TECHNICALS:
EURO/USD: The pair is above 50 and 200 day major moving average. Next Major resistance is at 1.1425. Major support is at 1.1145 and later at 1.1020. Daily MACD is in buy zone, implying an important bottom at 1.0750. Weekly MACD is in buy zone, implying important bottom at 1.0650.
GBP/USD: The pair has turned sideways and is below 200 day major moving average.Daily MACD is in buy zone, implying important bottom at 1.2075 and weekly MACD is in buy zone, implying important bottom at 1.2275. Important resistance is at 1.2810. Important support is at 1.24 and later at 1.2075.
USD/YEN: The pair is below major moving averages. Daily MACD is in sell zone, implying important top at 110. Next important resistance is at 108.45. Important support is at 106.
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