The USDINR market has remained in a persistent stalemate since August of the previous year, with a tight trading range between 82.80 and 83.40. This range is primarily concentrated within the 83.00 to 83.35 levels, lasting over five months with fluctuations of less than half a rupee. Such a stable period may inadvertently lead hedgers… Read More »
With the year-end approaching, we anticipate a quiet trading period, likely maintaining a range between 83.00/83.10 and 83.35/40 levels on the spot. USD INR GANN Chart USD INR back to gann angle support zone. USD INR Supply Demand Zone India Rupee Supply Demand Chart : Demand in range of 82.75-82.80, Supply in range… Read More »
USDINR made the biggest intra day move since 13th March 2023 back to important support of 83 USD INR GANN Chart USD INR back to gann angle support zone. USD INR Supply Demand Zone India Rupee Supply Demand Chart : Demand in range of 82.75-82.80, Supply in range of 83.15-83.25 USD INR Harmonic Price… Read More »
As US Dollar is coming back to life and major equity indices drifting lower, upside pressure will build on USDINR. It just 3 paise away from fresh all time high. How long can the invisible hand hold the rate here. When US Dollar had fallen, over the past couple of days, USDINR failed to move… Read More »
Friday, post US jobs and ISM services, there has been a major Bearish reversal on the US Dollar against important currencies globally. Major equity indices have done a bullish reversal. All in all, if there is follow through buying next week in assets and selling in the US Dollar, then we could see USDINR try… Read More »
If the prevailing risk-on sentiment persists, it could lead to some selling in USDINR, possibly pushing it toward the lower end of its established range. As such, we consider it a prudent strategy to be buyers on any potential declines, particularly near the 83.10 level on the spot market, and set a stop order below… Read More »
The global environment continues to favour the US Dollar, driven by the Federal Reserve’s hawkish comments, which have pushed the yield on the US 10-year Treasury to the 5% mark, leading to a sell-off in equities. The US Dollar is currently trading relatively flat against major currencies. Traders may consider buying the dip with a… Read More »
The adverse impact from the conflict in ISRAEL-PALESTINE WAR seems to be relatively limited, particularly if the conflict doesn’t directly involve Iran. Oil prices rising by approximately 4% and nearing $88 per barrel. US 10-year Treasury yields remain flat at 4.80%, Oct 16-20 week is going to be critical for markets. Possibly, it will get… Read More »
RBI’s sounded hawkish on inflation front and talk about possible OMO sales is positive for INR yields. Higher yields can push the forward premium higher and slightly positive for Rupee. But at the end of the day, direction of USDINR will be dictated by global trend of the US Dollar and the US bond yields.… Read More »
This decrease in US yields has prompted a much-needed correction in the US Dollar, which had become excessively overvalued. This technical correction could be advantageous for the Indian Rupee, which has struggled to stay below the all-time high of 83.29 against the US Dollar. We may see the USDINR spot rate gradually decline toward the… Read More »