News & Analysis
* USDINR traded strong taking cues from international market ended positive at 67.04.
* The dollar index, which tracks the greenback against a basket of trade-weighted peers, advanced almost 0.5 percent to 101.78. The rally in dollar was also supported by the increased optimism over FED rate hike in next meeting.
USD/INR FUTURE VIEW
USD/INR futures traded with firm sentiments due to short covering from traders in last session. Overall trend for USD/INR futures likely to remain sideways for intraday session due to short covering. Next important support seen at 66.85 levels. USD/INR futures likely to trade with sideways sentiments and 66.95 will be the tre
USDINR: Interestingly Poised
USDINR is trading in a channel and has taken a support at the lower end of channel and has bounced back and can retest the lower trend line of the bearish flag pattern. The currency pair may see selling at higher level and the crucial level on downside is Rs66.21 which is also our target. Break below Rs66.21 will see more s
USD/INR FUTURE VIEW
USD/INR futures traded with bearish sentiments due to selling pressure from traders in last session. Overall trend for USD/INR futures likely to remain sideways for intraday session due to short covering. Next important support seen at 66.70 levels. USD/INR futures likely to trade with sideways sentiments and 66.80 will be the trend
*USDINR trading range for the day is 66.85-67.08.
*Rupee settled flat on selling by nationalised banks ahead of US President Donald Trump's address to the Congress on tax plans and financial regulation.
*India's economy is expected to have slowed sharply to a near three-year low in the final three months of 2016.
Yesterday, the Indian Rupee depreciated by 0.11 percent tracking losses in the Asian markets as investors played safe prior to the speech by the newly elect US President which is to be held today. Moreover, persistent demand for the American currency by importers and banks kept the rupee pressurized. In today’s trading session, USDIN
The Indian Rupee appreciated by 0.16 percent in yesterday’s trading session on the back of weakness in dollar. Dollar remained under pressure as traders stayed cautious ahead of U.S. President Donald Trump speech. However, sharp gain was prevented on rise in risk aversion in the domestic markets and FII outflows from local shares. Bench
NSE USDINR March (CMP – 67.09)
NSE USDINR March as seen in the weekly chart above has opened the week with gap up at 67.45 levels and during the week open and high were the same levels. Later on prices could not able to sustain on higher levels and corrected sharply and made a weekly low of 67.04 levels. This week prices have closed below the pre
Last week, the USDINR appreciated by around 0.66 percent owing to the following factors:
* The Fed officials expressed their concerns on Trump’s fiscal stimulus plans which could pose as a problem for the American currency.
* The discussion of a rate hike “fairly soon” was tem