Published on 11/07/2017 10:12:04 AM | Source: LKP Securities Ltd

We expected USDINR to trade sideways to down with Support 64.30/64.10 - LKP Sec

Posted in Currency Report| #Currency Tips #LKP Securities Ltd


News & Analysis

* USDINR traded lower near 64.60 with positive equity indices and string FII inflows. Prices ended negative at 64.69 in yesterday’s trade.

* The dollar's advance against its major peers slowed early on Tuesday as a rise in sovereign bond yields paused, with investors awaiting comments from Federal Reserve Chair Janet Yellen for fresh cues on policy direction.

* Prices are expected to trade sideways to down with Support 64.30/64.10, resistance 64.70/64.90.



News & Analysis

* EURINR traded steady in lower range with mixed global cues and fluctuations in dollar index.

* At international pair, The euro was trading marginally down at $1.1397. Investors have dumped euro zone government bonds over the past two weeks on expectations the European Central Bank (ECB) would unwind extraordinary stimulus sooner rather than later.

* We expect prices to trade sideways to down with resistance at 73.9/74.10 while important support lies at 73.50/73.20.



News & Analysis

* GBPINR traded lower on weaker data from UK with concerns over UK economic growth.

* The pound was little changed at $1.2880. It was within reach of a two-week low of $1.2855 plumbed overnight after a run of lacklustre data cast doubt over the Bank of England's recent warnings that it is on the verge of raising borrowing costs.

* GBPINR has important resistance at 83.5/83.80. We expect prices to trade sideways to down with support at 83.10/82.90.



News & Analysis

* JPYINR traded lower witnessing sharp decline over positive US data which reduced demand for safe haven currency.

* The dollar was 0.1 percent higher at 114.160 yen following a rise to a two-month high of 114.300 overnight.

* We expect prices to trade sideways to down with support at 56.50/56.20, resistance 56.8/57.10.


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