IGI Logo

News Box

Dollar was seen stronger yesterday one expectations of a faster route to bond taper by Federal Reserve.

Importers hedging their near term payables also contributed to the rupee’s fall.

Nifty closed 0.08% lower tracking global cues.

Brent up 0.34% at $73.76 a barrel. Gold flat.

OUTLOOK - USDINR

USDINR gave a most of the gains and ended up forming a hammer pattern. However, we do not see as a bearish sign, but more as a sign that more consolidation could unfold, stalling the ongoing upmove. Favoured view expects dips to be limited to 73.47/37, followed by a push higher to 73.60.

To Read Complete Report & Disclaimer Click Here

For More Geojit Financial Services Ltd Disclaimer https://www.geojit.com/disclaimer 
SEBI Registration Number: INH200000345

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