• By Goodwill
  • 183 Comments
  • January 4, 2024

FX – MORNING UPDATE :

USDINR opened at 83.30 y’day and the pair traded in the 83.25-83.33 range. Spot USDINR closed at 83.28, loss of 4 ps for USD as against prior close of 83.32.

RBI reference rate was fixed at 83.32 on 03/01Jan USD/INR closed at 83.36 y’day, loss of 5 ps for USD as compared to prior day’s close of 83.41. Jan Euro/INR closed at 91.15, GBP/INR at 105.25 and Yen/INR at 58.65. 1 year USDINR fwd premia was trading at around 1.73% p.a.  FX reserves stood at USD 620.44 bn as on Dec 22 nd.  FX reserves climbed USD 4.47 bn, last week.

PAIRS

RBI REF RATE (03/01)

USDINR

83.32

EURINR

91.28

GBPINR

105.27

JPYINR

58.65

In Dec, FPI’S have bought Rs 56390 Cr of Equities and bought Rs 18392 Cr of debt . In this calendar year, FII’S have net bought Rs 172853 Cr of Equities and have net bought Rs 70489 Cr of debt.

Benchmark Nifty declined 148 points (0.69%) y’day. US S&P declined 38 points y’day (0.80%) y’day. Nikkei declined 0.23% and Hang Seng declined 0.94% y’day..

Euro is now at 1.0927, Pound at 1.2671, Yen at 143.29.

Commodities: Gold is now at USD 2046 and WT1Crude at USD 73/Brent at USD 78.

Interest rates: USD 10 Yr yield is at 3.92% and 3 m libor closed at 5.59%. Indian 10 yr benchmark yield closed at 7.20%.

Economic news: Fed minutes showed central bank officials acknowledging progress against inflation over the past year. But the minutes also offered few cues on when the bank could potentially begin trimming interest rates as signaled during the meeting.The minutes showed policymakers concerned over a soft landing for the U.S. economy, and whether monetary policy was too restrictive.

Yield rally and technology stocks sell off extended. Though Fed could trim rates this year, timing is uncertain and markets are impatient. Focus is now on US employment data.

Data highlights: – – US ISM (mfrg) remained in contraction mode at 47.4.

Thursday’s calendar : FOMC minutes

-US ADP employment report and weekly jobless claims

-EU PMI(services)

-UK PMI(services)

USD/INR

 

 

 83.33

83.25

EUR/USD

1.0927

 

1.0966

1.0892

GBP/USD

1.2671

 

1.2678

1.2614

USD/JPY

143.29

 

143.74

141.86

Daily Support/Resistance table

Currency Pairs

Pivot

R1

R2

R3

S1

S2

S3

EURO/USD

1.0927

1.0962

1.1001

1.1035

1.0888

1.0853

1.0814

GBP/USD

1.2651

1.2688

1.2715

1.2752

1.2624

1.2587

1.2560

USD/JPY

142.96

144.06

144.84

145.94

142.18

141.08

140.29

USD/INR

83.28

83.32

83.36

 

83.23

83.20

 

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Currency Pair

Supports

Resistances

Trend

Remarks

EURO/USD

1.1015

1.1275

UP

DN<1.0735

GBP/USD

1.2610

1.2845/1.30

SIDE

DN<1.2610

USD/JPY

141

146/147.15/149.70

DN

UP>146

USD/INR

83.17/83.10

83.35/83.45

SIDE

SIDE<83.10

USD/CHF

0.8650

0.8820/0.8950

DN

UP>0.8820

Technicals: Spot closed below 20 and  50 day average but above 200 day moving averages.20 day moving average is at 83.25. 50 day moving average is at 83.25.200 day moving average is at 82.69. Daily MACD is in buy zone. Important support is at 82.80 and important resistance is at 83.35/83.45. Spot closed at the average level of the day.

Intraday supports and resistances for Jan contract are:

PP: 83.37, S1:83.32, S2:83.28, R1:83.41, R2:83.46.             

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

However on directional basis, suggest the following:

USD exports be hedged at 83.35/83.40. Imports be hedged at 82.80/82.65 for 3 months.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is above major moving averages. Major resistance is at 1.1275. Next major support is at 1.0735/1.0665. Daily MACD is in buy zone, implying an important bottom at 1.0735. Weekly MACD is in buy zone, implying important bottom at 1.0450.

GBP/USD: The pair is above all major moving averages. Daily MACD is in buy zone, implying important bottom at 1.2610 and weekly MACD is in buy zone, implying important bottom at 1.25. Important support is at 1.2610/1.25. Important resistance is at 1.2845/1.30.

USD/YEN: The pair is below major moving averages. Daily MACD is in sell zone, implying important top at 151.75. Important resistance is at 146.60/149.70 and support is at 141.

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. emailtemp
    January 5, 2024

    I had a great time with that, too. Despite the high quality of the visuals and the prose, you find yourself eagerly anticipating what happens next. If you decide to defend this walk, it will basically be the same every time.

  2. tempemails
    January 6, 2024

    Hello my loved one I want to say that this post is amazing great written and include almost all significant infos I would like to look extra posts like this

  3. Puravive Weight Loss
    January 7, 2024

    I loved you even more than you’ll say here. The picture is nice and your writing is stylish, but you read it quickly. I think you should give it another chance soon. I’ll likely do that again and again if you keep this walk safe.

  4. Tree Email
    January 7, 2024

    I loved even more than you will get done right here. The picture is nice, and your writing is stylish, but you seem to be rushing through it, and I think you should give it again soon. I’ll probably do that again and again if you protect this walk.

  5. Zackary Rippin
    January 8, 2024

    Nice blog here Also your site loads up very fast What host are you using Can I get your affiliate link to your host I wish my site loaded up as quickly as yours lol

  6. Puravive Benefits
    January 10, 2024

    What i do not realize is in fact how you are no longer actually much more wellfavored than you might be right now Youre very intelligent You recognize thus considerably in relation to this topic made me in my view believe it from numerous numerous angles Its like men and women are not fascinated until it is one thing to do with Lady gaga Your own stuffs excellent All the time handle it up

  7. Devoneloky
    January 25, 2024

    mexican online pharmacies prescription drugs: online mexican pharmacy – buying prescription drugs in mexico online

  8. Patrickmag
    February 8, 2024

    us online pharmacy: canada rx pharmacy – best online pharmacy without prescription

  9. JerryAmoni
    February 14, 2024

    medication from mexico pharmacy [url=https://mexicanph.shop/#]mexican border pharmacies shipping to usa[/url] mexican online pharmacies prescription drugs

  10. JerryAmoni
    February 15, 2024

    purple pharmacy mexico price list [url=http://mexicanph.com/#]mexico pharmacies prescription drugs[/url] reputable mexican pharmacies online

  11. ArmandoGycle
    February 15, 2024

    https://mexicanph.com/# п»їbest mexican online pharmacies
    mexican rx online [url=https://mexicanph.com/#]buying prescription drugs in mexico online[/url] buying prescription drugs in mexico online

  12. Travisfaivy
    February 16, 2024

    http://mexicanph.shop/# buying from online mexican pharmacy
    mexican online pharmacies prescription drugs

  13. ArmandoGycle
    February 16, 2024

    http://mexicanph.shop/# buying from online mexican pharmacy
    best online pharmacies in mexico [url=http://mexicanph.shop/#]mexican rx online[/url] reputable mexican pharmacies online

  14. JerryAmoni
    February 17, 2024

    medication from mexico pharmacy [url=https://mexicanph.com/#]mexican mail order pharmacies[/url] buying from online mexican pharmacy

  15. Travisfaivy
    February 17, 2024

    https://mexicanph.com/# п»їbest mexican online pharmacies
    mexican online pharmacies prescription drugs

  16. ArmandoGycle
    February 18, 2024

    http://mexicanph.shop/# mexico pharmacies prescription drugs
    mexican border pharmacies shipping to usa [url=https://mexicanph.shop/#]mexico pharmacies prescription drugs[/url] mexican mail order pharmacies

  17. JulioNug
    February 18, 2024

    buying from online mexican pharmacy mexican pharmacy mexican mail order pharmacies

  18. PeterBup
    February 18, 2024

    mexico drug stores pharmacies mexican rx online best online pharmacies in mexico

  19. ArmandoGycle
    February 18, 2024

    http://mexicanph.com/# reputable mexican pharmacies online
    buying prescription drugs in mexico [url=https://mexicanph.shop/#]mexican online pharmacies prescription drugs[/url] best online pharmacies in mexico

  20. JerryAmoni
    February 19, 2024

    medicine in mexico pharmacies [url=https://mexicanph.com/#]purple pharmacy mexico price list[/url] mexican online pharmacies prescription drugs

  21. JerryAmoni
    February 19, 2024

    mexico pharmacies prescription drugs [url=http://mexicanph.com/#]mexico pharmacies prescription drugs[/url] mexican online pharmacies prescription drugs

  22. ArmandoGycle
    February 19, 2024

    https://mexicanph.com/# purple pharmacy mexico price list
    mexico drug stores pharmacies [url=http://mexicanph.com/#]best online pharmacies in mexico[/url] mexican drugstore online

  23. RobertsoGma
    February 20, 2024

    reputable mexican pharmacies online mexican pharmacy mexico drug stores pharmacies

  24. DavidFex
    February 20, 2024

    furosemide 100mg [url=http://furosemide.guru/#]Over The Counter Lasix[/url] lasix 40mg

  25. CharlesCaple
    February 20, 2024

    http://amoxil.cheap/# where can you buy amoxicillin over the counter
    prednisone pill 10 mg [url=http://buyprednisone.store/#]how to buy prednisone[/url] by prednisone w not prescription

  26. CharlesCaple
    February 21, 2024

    http://buyprednisone.store/# prednisone for sale in canada
    amoxicillin 500 mg purchase without prescription [url=https://amoxil.cheap/#]amoxicillin for sale online[/url] amoxicillin generic

  27. Jamesasync
    February 21, 2024

    lasix furosemide: Buy Lasix – lasix generic name

  28. CharlesCaple
    February 22, 2024

    https://furosemide.guru/# lasix 100mg
    buy lisinopril without prescription [url=http://lisinopril.top/#]lisinopril 10 mg 12.5mg[/url] price lisinopril 20 mg

  29. DavidFex
    February 22, 2024

    lisinopril pill [url=https://lisinopril.top/#]can i order lisinopril online[/url] zestril 40 mg tablet

  30. Jamesasync
    February 22, 2024

    54 prednisone: prednisone – prednisone buy canada

  31. Leonardobjef
    February 22, 2024

    generic lasix: Buy Lasix – buy furosemide online

  32. Leonardobjef
    February 23, 2024

    lisinopril 40 mg tablet: lisinopril 2019 – lisinopril 30 mg cost

  33. CharlesCaple
    February 23, 2024

    http://lisinopril.top/# lisinopril 20 mg pill
    lisinopril 20 mg best price [url=http://lisinopril.top/#]lisinopril 3.125[/url] zestoretic 20

  34. DavidFex
    February 23, 2024

    lisinopril 12.5 mg 20 mg [url=http://lisinopril.top/#]lisinopril 40 mg brand name[/url] lisinopril 10mg tabs

  35. CharlesCaple
    February 24, 2024

    https://lisinopril.top/# buy lisinopril 10 mg online
    lasix medication [url=https://furosemide.guru/#]Buy Lasix[/url] generic lasix

  36. Jamesasync
    February 24, 2024

    furosemide 40mg: Buy Lasix – furosemide 100 mg

  37. Jamesasync
    February 24, 2024

    stromectol 12mg: stromectol 3 mg – cost of ivermectin 1% cream

  38. CharlesCaple
    February 25, 2024

    http://stromectol.fun/# ivermectin canada
    order amoxicillin online no prescription [url=http://amoxil.cheap/#]amoxicillin 500mg buy online uk[/url] order amoxicillin uk

  39. Leonardobjef
    February 25, 2024

    buy furosemide online: Buy Lasix – lasix 40 mg

  40. CharlesCaple
    February 25, 2024

    http://stromectol.fun/# ivermectin 4
    5 mg prednisone daily [url=https://buyprednisone.store/#]purchase prednisone 10mg[/url] prednisone 15 mg daily

  41. Jamesasync
    February 25, 2024

    zestoretic coupon: generic for zestril – can i buy lisinopril over the counter in mexico

  42. Leonardobjef
    February 26, 2024

    ivermectin price comparison: stromectol uk – stromectol over the counter

Leave a Reply

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