IGI Logo

News / Other data

* Financial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies.

* The Middle East and North Africa are the world's fastest-growing cryptocurrency markets, with the volume of crypto received in the region jumping 48% in the year to June, blockchain researcher Chainalysis said in a report on Wednesday.

* The dollar steadied and pushed higher in early dealings in Europe on Wednesday, after senior Federal Reserve officials played down suggestions of an imminent 'pivot' in its monetary policy amid signs that the U.S. labor market is cooling down.

* The dollar suffered a bruising encounter Tuesday, but its swing lower may come to an abrupt end in the coming days as Friday’s U.S. monthly jobs data has the potential to drown out recent hopes of a Federal Reserve pivot.

* The pound and U.K. government markets faltered on Tuesday after Chancellor of the Exchequer Kwasi Kwarteng insisted that he won't present a more detailed version of his spending plans for another six weeks, dashing hopes for more immediate clarity on a fiscal policy course that has spooked markets.

* A new NFT trading craze where names are bought and sold for eye-popping sums is providing a multi-milliondollar lifeline for speculators shivering in the bleak crypto winter.

Data inference

* 'Actual' less than 'Forecast' is good for currency

Chart for the day

Observation

* On looking at Daily chart of EURINR, we can spot that the overall trend Was on the downside while prices forming Lower Low, Lower High Formation.

* Prices have shown a failure of Head and Shoulder pattern which indicated a beginning of trend on upside.

* On smaller timeframe charts prices have breached a strong volume and price consolidation level.

* RSI on the Daily timeframe have shown a breakout which reflects the rising momentum in the prices

Inference

* Buy above 80.96 Target 81.40 SL 80.50

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://web.geplcapital.com/term-disclaimer
SEBI Registration number is INH000000081

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer