FX MORNING UPDATE 

USDINR opened at 73.18 y’day and the pair traded in the 73.08-73.41 range. Spot USDINR closed at 73.30 , gain of 16 ps for USD as against prior close of 73.14. RBI reference rate was fixed at 73.38 on Thursday. Oct USD/INR closed at 73.39, gain of 4 ps for USD as compared to prior day’s close of 73.35. Oct Euro/INR closed at 86.29, GBP/INR at 94.95 and Yen/INR at 69.50.

FII’S nett sold Rs 5689 Cr of Indian Equities in Sept t . FII’S nett bought Rs 3009 Cr of Indian debt securities in Sept . In this financial year, FII’S have nett bought Rs 79484 Cr of Equities and have sold Rs  34818 Cr in debt. In FY 19-20, FII’s have sold Rs 10200 Cr of Equities and 47393 cr of debt.

Benchmark Nifty climbed 0.76% y’day. DOW declined 134 points (0.48%).Nikkei climbed 1.23% and Hang seng climbed 1.32%.

Euro is now at 1.1789,Pound at 1.2985,Yen at 105.67.     

Commodities: Gold is now at USD 1913 and WT1Crude at USD 39.17/Brent at USD 41.30.

Interest rates: USD 10 Yr yield is at 0.696% and 3 m libor closed at 0.25%. Indian 10 yr benchmark yield closed at 6.04%.

Economic news: Indian trade deficit was reported at USD 2.91 bn in Sept vs USD 6.8 bn in Aug. Imports contracted 19.60% in September to $30.31 billion from a year ago while exports rose 5.27% to $27.40 billion. Imports fell by 40.06% to $148.69 billion during April-August while exports contracted 21.43% y/y to USD 125.06 bn.

Data highlights : – EU PMI(services) improved to 48 and sentix investor confidence improved to -8.3.

-UK PMI(services) improved to 56.1.

Tuesday’s calendar: – UK PMI(services)

USD/INR   73.41 73.08
EUR/USD 1.1789 1.1798 1.1707
GBP/USD 1.2985 1.2991 1.2899
USD/JPY 105.67 105.75 105.61

Daily Support/Resistance table

CurrencyPairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.1762 1.1817 1.1854 1.1909 1.1726 1.1670 1.1634
GBP/USD 1.2956 1.3013 1.3049 1.3106 1.2921 1.2863 1.2828
USD/JPY 105.60

 

105.91 106.12 106.43 105.39 105.08

 

104.88

 

USD/INR 73.26 73.44 73.59   73.11 72.93

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Curency Pair Supports Resistances Trend Remarks
EURO/USD 1.1580 1.1750/1.1920/1.20 SIDE DN<1.15
GBP/USD 1.2670/1.2480 1.3010 DN UP>1.3010
USD/JPY 104.10 105.80/107 DN UP>107
USD/INR 72.70 73.52/73.98 DN UP>74.50
USD/CHF 0.90 0.92 UP DN<0.9150

Technicals: Spot closed below 200 day moving average. 20 day moving average is at 73.55. 50 day moving average is at 74.10.200 day moving average is at 73.94. Daily MACD is in sell zone, implying top at 73.98. Important support is at 72.70 and important resistance is at 73.53 and later at 73.98. Spot closed below its average level of the day.

Intra day supports and resistances for Oct contract are:

PP:73.39,S1:73.21, S2:73.03, R1:73.57, R2: 73.75.                         

Hedging strategy for USD/INR: Hedging decisions be taken according to comfort and accounting rates.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is above 100 and 200 day major moving averages, but below 20 and 50 day moving averages. Next Major resistance is at 1.1750 and later at 1.19. Major support is at 1.1580. Daily MACD is in sell zone, implying an important top at 1.20. Weekly MACD is in sell zone, implying important top at 1.20.

GBP/USD: The pair is between moving averages. Daily MACD  is in buy zone, implying important bottom at 1.2674 and weekly MACD is  in sell zone, implying important top at 1.3484. Important support is at 1.2670/1.2470 . Important resistance is at 1.30 and later at around 1.31.

USD/YEN: The pair is below major moving averages. Daily MACD is in buy zone, implying important bottom at 104. Next important resistance is at 105.80/107. Important support is at at 104.10./

For all your investment needs feel free to reach Goodwill.

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

Leave a reply:

Your email address will not be published.

Site Footer

© 2018 GOODWILL - ALL RIGHTS RESERVED