OUTLOOK: USD INR
We expect the rupee to trade on a neutral to positive note against the dollar taking cues from mixed economic data from US and slight positivity in the global markets. However, month end demand by the importers and increasing strength in the dollar index will cap sharp gains in the rupee.
MCX-SX USDINR Feb 2014
Rupeeposteditsbiggestsingle-daygainin overtwo monthssnapping a three-day falling streak after the central bankunexpectedly raised interest rates to bring down consumer inflation.Investors were also comforted after the Reserve Bank of India (RBI)indicated it did not foresee more near-term policy tightening shouldretail inflation ease in line
Index The US Dollar Index (DX) gained around 0.1 percent yesterday due to concerns of QE tapering by the Federal Reserve in its meeting today. However, sharp upside in the currency was capped due to rise in risk appetite in market sentiments in later part of the trade which led to decline in demand for the low yielding currency. The currency touched an i
USD-INR: bulls take control
From the high of 68.80 USD-INR had fallen down sharply. Near the end of the fall it has formed an ending diagonal pattern. Recently the pattern has broken out on the upside. The short-term momentum indicator is in line with the breakout. From the short-term perspective key levels on the upside are at 63.90–64.80 ie 38.2%-50% retr
MCX-SX USDINR Jan 2014
Rupee fell for a third consecutive session to its lowest against the dollar since mid-November as a broad emerging market sell-off raised worries foreign investors would pare down their domestic stock and bond holdings. The Reserve Bank of India's policy review on Tuesday also kept investors cautious. Although the central bank is expecte
The pair has provided a clear breakout from the triangular pattern formed within the larger broadening pattern. Now, in the medium term the gates are open for 65.15 levels on the upside, whereas, on the lower side, 62.66 is a very crucial support and below that 62.1125 levels. Now, till the pair is trading above these levels the bulls need not wor
$ The Indian rupee fell for a third consecutive session to its lowest against the dollar since mid-November as a broad emerging market sell-off raised worries foreign investors would pare down their domestic stock and bond holdings. $ The dollar slipped to a seven-week low against the yen as a sell-off in emerging m
OUTLOOK : USD INR
We expect the rupee to remain volatile today ahead of the RBI monetary policy review today and Fed Monetary Policy Decision tomorrow. A negative bias can be expected in the rupee due to weak global and domestic market sentiments amid concerns of slower Chinese growth and continuity in the pace of Fed stimulus cut back.
The Indian Rupee depreciated around 0.7 percent yesterday, marking sharp losses ahead of the RBI’s monetary policy review on today. Also, dollar demand from oil importers and firms coupled with defense related purchases acted as negative factor. Further, mixed market sentiments exerted downside pressure on the currency
But the currency
The pair has formed a broadening pattern and it seems to have formed a base for the short term. It has almost formed a double bottom at 61 levels; however, the breakout of the same comes above 64.19 levels. Now, within this broadening pattern it has formed a triangular pattern and the breakout of the same will be confirmed above 63.1350 levels. So, we recom
• We expect Indian Rupee to be range bound and depreciate on the back of cautious statement from RBI Governor in last week which indicated a rise in interest rates in monetary policy review meeting on 28th Jan’14.
• Further, concerns of QE tapering by the Federal Reserve, strength in the DX along
$ The Indian rupee fell to a two-month low , posting its worst week in five months, as local shares slumped mirroring a global selloff, with the central bank's policy review next week to set the tone for the currency. $ The yen and Swiss franc held firm early day, having charged higher overnight as worries about a slowdown in China and turmoil in s
MCX-SX USDINR Jan 2014
Rupee fell posting its worst week in five months, as local shares slumped mirroring a global selloff, with the central bank's policy review next week to set the tone for the currency. The rupee's fall was driven by steep losses in shares, as investors fled markets in Asia and Latin America, fearing the impact of a slower growth in Ch