USDINR: Bearish Stance continues - Sharekhan

USDINR: Bearish Stance continues

USDINR has broken down from the rising trend line. The currency pair has also broken below its previous swing low (63.92) and is headed down towards 62.35. The daily momentum indicator is negative .The Daily & weekly moving averages are facing resistance on upside. Any possible rise

EURINR spot is expected to trade sideways today - Angel Broking

FUNDAMENTAL OUTLOOK

Indian rupee

Indian rupee has been strengthening in the past few trading sessions on account of consistent inflows in equities as well as debt markets. However, it weakened by around 0.3 percent on Wednesday to close at 63.86 mark. Losses in local equities amid escalating tensions between

GBPINR trading range for the day is 82.9-83.5 - Kedia

USDINR

* USDINR trading range for the day is 63.81-64.1.

* Rupee weakened to near one-week low against the US dollar on likely outflows from local stocks, demand from oil importers amid strong dollar.

* The RBI cut interest rates last week - but maintained its neutral stance and said inflation could accelerate.

* Activity

USDINR spot is expected to weaken today - Angel Broking

FUNDAMENTAL OUTLOOK

Indian rupee

After appreciating by 0.21 percent yesterday, USDINR spot is expected to weaken today tracing losses in the Asian markets. Markets take a risk-off approach after the US and North Korea exchanged threats amid escalating tensions between the two nations. All of the above factors

USDINR trading range for the day is 63.67-64.02 - Kedia

USDINR

* USDINR trading range for the day is 63.67-64.02.

* Rupee gained as the dollar remained lower as trading remained quiet with no major U.S. data, although Friday’s strong U.S. jobs report still lent some support.

* India's private sector activity deteriorated at the fastest pace since early 2009 in July, following t

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