• By Goodwill
  • 40 Comments
  • August 25, 2023

FX – MORNING UPDATE :

USDINR opened at 82.43 Y’day and the pair traded in the 82.36-82.59 range. Spot USDINR closed at 82.57, loss of 16 ps for USD as against prior close of 82.73.

RBI reference rate was fixed at 82.55 on 24/08Aug USD/INR closed at 82.57, loss of 15 ps for USD as compared to prior day’s close of 82.72. Aug Euro/INR closed at 89.66, GBP/INR at 104.79 and Yen/INR at 56.82. 1 year USDINR fwd premia was trading at around 1.66% p.a.  FX reserves stood at USD 602 bn as on Aug 11 th.

PAIRS RBI REF RATE (24/08)
USDINR 82.55
EURINR 89.73
GBPINR 105.02
JPYINR 56.90

In Aug, FPI’S have bought Rs 9167 Cr of Equities and bought Rs 4388 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 59 points (0.29%) y’day. US S&P declined 60 points  (1.35%) . Nikkei climbed 0.72% and Hang Seng climbed 2.09% y’day.

Euro is now at 1.0795, Pound at 1.2592, Yen at 146.06.

Commodities: Gold is now at USD 1943 and WT1Crude at USD 79/Brent at USD 83.

Interest rates: USD 10 Yr yield is at 4.24% and 3 m libor closed at 5.65%. Indian 10 yr benchmark yield closed at 7.20%.

Economic newsRupee gained as RBI directed Banks to refrain from arbitrage speculation between OTC and Overseas NDF market. IPO related and FDI inflows also contributed to Rupee gain.

USD gained ahead of Fed Chairman’s speech.

Data highlights: – US Weekly jobless claims and Durables order Friday’s calendar : – No major data release.

USD/INR      82.59 82.36
EUR/USD

1.0795

  1.0877 1.0793
GBP/USD

1.2592

  1.2729 1.2586
USD/JPY

146.06

  146.07 144.62

Daily Support/Resistance table

Currency Pairs Pivot R1 R2 R3 S1 S2 S3
EURO/USD 1.0823 1.0853 1.0907 1.0937 1.0769 1.0739 1.0685
GBP/USD 1.2636 1.2686 1.2779 1.2829 1.2543 1.2493 1.24
USD/JPY 145.58 146.54 147.04 148 145.09 144.12 143.63
USD/INR 82.50 82.65 82.74   82.41 82.26  

 MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Currency Pair Supports Resistances Trend Remarks
EURO/USD 1.0835/1.0765 1.0925/1.1065 SIDE UP>1.1070
GBP/USD 1.2620/1.2350 1.2820/1.30/1.3150 SIDE UP>1.2820
USD/JPY 144/142 147 UP SIDE<142
USD/INR 82.35/82.25 82.86/83.14 SIDE UP>82.86
USD/CHF 0.8565/0.8440 0.8820 DN SIDE>0.8820

Technicals: Spot closed above 50 and 200 day moving averages.20 day moving average is at 82.66. 50 day moving average is at 82.35.200 day moving average is at 82.25. Daily MACD is in sell zone. Important support is at 82.35/82.25 and important resistance is at 82.86/83.14/83.30. Spot closed below the average level of the day.

Intraday supports and resistances for Aug contract are:

PP: 82.52, S1:82.42, S2:82.27, R1:82.67, R2:82.76.             

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.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is below 50 day average, but still above 200 day major moving average. Major resistance is at 1.0925/1.1065/1.1140/1.1275. Next major support is at 1.0835/1.0765/1.0635. Daily MACD is in sell zone, implying an important top at 1.1275. Weekly MACD is in sell zone, implying important top at 1.1275.

GBP/USD: The pair is above 100 and 200 day moving averages . Daily MACD is in sell zone, implying important top at 1.3145 and weekly MACD is in sell zone, implying important top at 1.3145. Important supports are at 1.2620/1.2590/1.2350. Important resistance is at 1.2820/1.30/1.3145.

USD/YEN: The pair is above 50 and 200 day major averages. Daily MACD is in buy zone, implying important bottom at 137.35. Important resistance is at 147 and support is at 144/142.

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. Gaza and its Resistance to Israel’s Brutal Attacks
    December 2, 2023

    This was beautiful Admin. Thank you for your reflections.

  2. dubai live tv
    January 10, 2024

    You’re so awesome! I don’t believe I have read a single thing like that before. dubai racing tv channel live

  3. Live TV
    February 3, 2024

    As I website owner I believe the content material here is really good appreciate it for your efforts.Live TV

  4. girls hey dudes
    February 26, 2024

    This was beautiful Admin.hank you for your reflections. – hey dudes for girls

  5. Qjnicy
    March 14, 2024

    order cipro 1000mg without prescription – augmentin 625mg cost augmentin cheap

  6. Qlqpws
    March 18, 2024

    buy metronidazole for sale – terramycin pills buy azithromycin without a prescription

  7. Yushez
    March 22, 2024

    buy generic metronidazole 400mg – cheap metronidazole buy generic azithromycin online

  8. Ojfotq
    March 27, 2024

    order retrovir without prescription – glucophage oral order zyloprim 300mg generic

  9. Hyfxjb
    March 28, 2024

    buy clozaril paypal – oral pepcid order famotidine pill

  10. Yhpoet
    March 30, 2024

    buy quetiapine 50mg generic – brand effexor 75mg where to buy eskalith without a prescription

  11. Heggpl
    April 4, 2024

    buy generic amoxicillin – keflex brand ciprofloxacin 500mg tablet

  12. Cuwotq
    April 10, 2024

    clindamycin brand – monodox generic cheap chloramphenicol pill

  13. Vxvany
    April 12, 2024

    ivermectin 12mg without a doctor prescription – ivermectin 12 mg pills buy generic cefaclor

  14. air jordan 1 red and white
    April 14, 2024

    Some really excellent info I look forward to the continuation.

  15. Fwreaz
    April 16, 2024

    clarinex 5mg brand – brand clarinex 5mg best antihistamine for itchy skin

  16. Locudb
    April 25, 2024

    ketoconazole 200mg cost – oral sporanox sporanox medication

  17. Mlyldo
    April 27, 2024

    buy digoxin 250mg online – order avapro order lasix 100mg online cheap

  18. Orrnoq
    April 29, 2024

    buy hydrochlorothiazide generic – order microzide pill order bisoprolol 5mg generic

  19. Xpbsdb
    May 1, 2024

    buy nitroglycerin sale – clonidine tablet purchase valsartan generic

Comments are closed.