USDINR opened at 73.46 y’day and the pair traded in the 73.16-73.50 range. Spot USDINR closed at 73.46 , loss of 9 ps for USD as against prior close of 73.55. RBI reference rate was fixed at 73.28 on Monday. Sep USD/INR closed at 73.75, loss of 22 ps for USD as compared to prior day’s close of 73.98. Sep Euro/INR closed at 86.80, GBP/INR at 95.41 and Yen/INR at 69.53.
FII’S have nett bought Rs 1682 Cr of Indian Equities in Sept till date . FII’S have nett bought Rs 57 Cr of Indian debt securities in Sept till date. In this financial year, FII’S have nett bought Rs 86855 Cr of Equities and have sold Rs 37770 Cr in debt. In FY 19-20, FII’s have sold Rs 10200 Cr of Equities and 47393 cr of debt.
Benchmark Nifty climbed 1.55% y’day. DOW declined 405 points (1.45%).Nikkei climbed 0.88% and Hang seng declined 0.64% y’day.
Euro is now at 1.1835,Pound at 1.2821,Yen at 106.17.
Commodities: Gold is now at USD 1947 and WT1Crude at USD 37.17./Brent at USD 39.89.
Interest rates: USD 10 Yr yield is at 0.71% and 3 m libor closed at 0.25%. Indian 10 yr benchmark yield closed at 6.05%.
Economic news: Indian Equity indices rallied on reports of a new deal between Reliance Retail and Amazon. Rupee gained on FDI inflows related to Reliance. However, PSU banks bought USD at 73.20 levels.
Data highlights : – – US Weekly jobless claims and PPI
Friday’s calendar: – US CPI
-UK GDP, Industrial and manufacturing production.
| USD/INR | 73.50 | 73.16 | |
| EUR/USD | 1.1835 | 1.1918 | 1.1800 |
| GBP/USD | 1.2821 | 1.3036 | 1.2773 |
| USD/JPY | 106.17 | 106.31 | 105.98 |
Daily Support/Resistance table
| CurrencyPairs | Pivot | R1 | R2 | R3 | S1 | S2 | S3 |
| EURO/USD | 1.1844 | 1.1888 | 1.1962 | 1.2006 | 1.1653 | 1.1726 | 1.1770 |
| GBP/USD | 1.2871 | 1.2969 | 1.3134 | 1.3232 | 1.2706 | 1.2608 | 1.2443 |
| USD/JPY | 106.14
|
106.30 | 106.46 | 106.62 | 105.97 | 105.82
|
105.65
|
| USD/INR | 73.37 | 73.58 | 73.71 | 73.24 | 73.03 |
MAJOR SUPPORTS/RESISTANCES AND TREND TABLE
| Curency Pair | Supports | Resistances | Trend | Remarks |
| EURO/USD | 1.1755/1.1580 | 1.1965 | UP | SIDE<1.1755 |
| GBP/USD | 1.2980/1.2810/1.2670 | 1.3515 | UP | SIDE<1.2980 |
| USD/JPY | 105.10/104.10 | 107 | DN | UP>107 |
| USD/INR | 72.70 | 73.80/74.50 | DN | UP>74.50 |
| USD/CHF | 0.90 | 0.9240 | DN | UP>0.9240 |
Technicals: Spot closed below 200 day moving average. 20 day moving average is at 73.98. 50 day moving average is at 74.54.200 day moving average is at 73.75. Daily MACD is in sell zone, implying top at 75.10. Important support is at 72.70 and important resistance is at 73.80 and later at 74.50. Spot closed below its average level of the day.
Intra day supports and resistances for Sep contract are:
PP:73.78,S1:73.58, S2:73.41, R1:73.95, R2: 74.15
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 1.1965 and later at 1.21. Major support is at 1.1755 with next support at 1.1580. Daily MACD is in sell zone, implying an important top at 1.1967. Weekly MACD is in buy zone, implying important bottom at 1.0650.
GBP/USD: The pair has turned bullish again. Daily MACD is in buy zone, implying important bottom at 1.2980 and weekly MACD is in buy zone, implying important bottom at 1.14. Important support is at 1.2980 and later at 1.2670. Important resistance is at 1.35.
USD/YEN: The pair is below major moving averages. Daily MACD is in buy zone, implying important bottom at 105.10. Next important resistance is at 107. Important support is at 105.10 and later at 104.10.
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