Dollar down after dovish statement from Fed official - Sharekhan

US Dollar Index (DX):

US Dollar declined by 0.12% in yesterday’s trading session against basket of six major currencies on the back of dovish statements from Fed officials. St. Louis Fed president James Bullard said “The current level of the policy rate is likely to remain appropriate over the near term.” Further, rising worries over

We expect USDINR prices should move lower towards 63.30 - Choice India

USDINR

Technical View:

On a daily chart, the pair has given breakdown of its rising channel trend line at 64.20 level.

Moreover, prices have been trading below its 50 DSMA which gives the sign of bearishness in the prices.

A momentum indicator RSI has moved below 40 level on a daily chart,

JPYINR spot is expected to trade lower today - Angel Broking

FUNDAMENTAL OUTLOOK

Indian rupee

After depreciating by 0.31 percent yesterday, USDINR spot is expected to trade sideways to positive today as markets discount the dovish statement made by two of the US Fed policymakers. According to James B. Bullard, Feds won't need to raise interest rates in near term. H

JPYINR trading range for the day is 57.65-57.91 - Kedia

USDINR

* USDINR trading range for the day is 63.74-64.14.

* Rupee depreciated most against the greenback on likely outflows from the local stocks and local debt amid strong dollar.

* Activity in India's dominant service sector contracted at the sharpest rate in nearly four years in July after a new tax policy sowed confusion.

Sell NSE USDINR @64.00 - 64.10 StopLoss - 64.40 Target – 63.50/63.40 - Angel Broking

NSE USDINR Aug as seen in the weekly chart above has opened the week with gap down at 64.33 levels and at the starting of the week it made a weekly high of 64.44 levels. Later on as expected price could not able to sustain on higher levels and corrected sharply and made a weekly low of 63.74 levels. This week prices have closed below the previous week’s closing of 64.38 levels and finally

USDINR spot is expected to strengthen further towards 63.45 levels - Angel Broking

Currencies

Statements, events and acts that moved the markets last week has been explained below:

US President Trump has signed sanction bills on Russia slamming it as flawed to which Kremlin ordered Washington to slash embassy staff in Russia. Also, Robert Mueller, who is the special counsel investigating links between Trump aides and Russi

Dollar bounced back after upbeat job data - Sharekhan

US Dollar Index (DX):

US Dollar increased by 0.76% on Friday’s trading session against basket of six major currencies on the back of upbeat job data’s from US. Non-Farm payrolls data showed that 209K jobs were added in month of July compared to the expectation of 182K. Further, comments from National Economic council director Gary Cohn abo

Buy JPYINR @ 57.50 StopLoss 57.20 target 58.50 - Choice India

USDINR

Technical View:

On a daily chart, the pair has given breakout of its horizontal trend line at 66.50 level.

Moreover, prices have been trading below its 50 DSMA which gives the sign of bearishness in the prices.

A momentum indicator RSI has moved below 50 level on a daily chart, whic

EURINR spot is expected to trade lower - Angel Broking

FUNDAMENTAL OUTLOOK

Indian rupee

 In the last week, USDINR spot appreciated by 0.76 percent as markets have been discounted the recent rate cut move by the RBI on the back of low inflation rate. Uncertainty has clouded the global markets which is affecting markets across the globe to some extent. In spite

GBPINR trading range for the day is 83.72-84.2 - Kedia

USDINR

* USDINR trading range for the day is 63.67-63.96.

* Rupee trading in range as investors refrained from taking significant market position awaiting the US Non-farm payrolls data.

* Activity in India's dominant service sector contracted at the sharpest rate in nearly four years in July after a new tax policy sowed confusi

Sell USDINR @ 64.50 Stoploss 64.75 Target 63.50 - Choice India

USDINR

Technical View:

On a daily chart, the pair has given breakout of its horizontal trend line at 66.50 level.

Moreover, prices have been trading below its 50 DSMA which gives the sign of bearishness in the prices.

A momentum indicator RSI has moved below 50 level on a daily chart, which suggests the p

US doller struggled around multi-month lows- IIFL

US doller struggled around multi-month lows, as services PMI (ISM) decelerated to 53.9 in July from 57.4 during the prior month. Services constitute a major chunk of US economy and persistent signs of slowdown can compel US fed to backtrack from the process of policy normalisation. However, it is too naive to take a call simply on a one month readind.

On other side of the Attantic, Po

USDINR: Bearish Outlook - Sharekhan

USDINR: Bearish Outlook

USDINR has broken down from the rising trend line. The currency pair has also broken down from the range (65- 64) where it consolidated and the upper end of the range will be provide a stiff resistance. The low of 63.92 will provide a crucial support and with break of that the pair may head lower till 62.35.The daily momentum in

JPYINR trading range for the day is 57.55-58.05 - Kedia

USDINR

*  USDINR trading range for the day is 63.65-64.06.

*  Rupee strengthened amid heavy selling of dollars by foreign banks, with the central bank decision to cut interest rates.

*  RBI refrained from intervening to cap broader gains in the domestic currency, adding they were unsure why the central bank had staye

Indian Rupee near 2 years high after RBI policy meets - Sharekhan

US Dollar Index (DX):

US Dollar decreased by 0.22 percent in yesterday’s trading session against basket of six major currencies and remained near 15 month low on the back of disappointing economic data’s from US and rising worries over political uncertainty in US. Further, dovish statements from Fed official added downside pressure. St. Lo

EURINR spot is expected to trade lower today - Angel Broking Pvt Ltd

FUNDAMENTAL OUTLOOK

Indian rupee

After appreciating by 0.72 percent yesterday, USDINR spot will once again trade in a positive manner today. Markets are discounting the rate cut move by the RBI in yesterday’s policy meet. The governor cited low crude prices, low inflation rate, rise in global demand and

EURINR trading range for the day is 75.24-76.33 - Kedia

USDINR

* USDINR trading range for the day is 63.46-64.53.

* Rupee strengthened to its highest in two years amid heavy selling of dollars by foreign banks.

* RBI cut its policy rate by 25 basis points to 6 percent, as slumping inflation allowed the central bank to focus on boosting an economy.

* The RBI also cut the revers

BOE will contemplate at normalising the polocy at the beginning of next year - IIFL

FX

 US dollar continues to struggle, with values momentarily dipping to a 15 month low against the basket of currencies. Meanwhile, Euro remained on a firm footing, underpinned by positive macroeconomic numbers. In this regard, Euro zone Q2 GDP expanded 2.1% (yoy basis), higher than the growth of 1.9% in the prior quarter. For Indian rupee, marke

EURINR trading range for the day is 75.82-76.3 - Kedia

USDINR

* USDINR trading range for the day is 64.18-64.42.

* Rupee traded near 11-week high as dollar plunged to over 15-month low on uncertainty over the US political outlook.

* Rupee also seen supported as investors expect the Reserve Bank of India to cut interest rates at its policy.

* Indian factory activity plunged las

EURINR spot (CMP - 75.15) is expected to trade higher - Angel Broking

Rupee

* In the last week, the Indian Rupee spot appreciated by 0.42 percent as the markets discounted the July’17 release of FOMC policy statement which showed that the Feds did not look very committed to raising interest rates anytime soon given the weak inflation rate.

* On the domestic front, markets traded mostly on the upside all

USD sustaining strength and moving above 1.20 mark in next few months - IIFL

FX  

Euro hit a 2 & 1/2 year high against US dollar,with values surpassing 1.18 mark. The currency was helped by steady inflation reading, where CPI for july was reported at 1.3%. Although prevalent inflations is still well behind ECB's inflation targer of 2%, there is a strong expection that the central bank will decide to taper the asset

Dollar plunges on worries over political uncertainty - Sharekhan

US Dollar Index (DX):

US Dollar decreased by 0.42 percent in yesterday’s trading session against basket of six major currencies on the back of worries over political uncertainty in US and dovish statement from Fed official. Anthony Scaramucci was removed from his job as White House communications director. Fed Vice Chair Stanley Fischer said tha