FOMC minutes indication of an exit from quantitative easing has been more or less factored in by the markets. The US dollar should gain further. Gains in the US dollar has been nullified by falling crude oil prices for the Indian rupee as well as emerging market currencies. Lower crude prices has prevented big short term weakness for the rupee.
My personal view that is monsoon rain in North India and North West India is not as good as it might appear officially. Overall also progress of monsoon has been either too much rain or too little rain. This will affect rural consumer demand. Excessive optimism on the Indian economy in the short term could backfire. Just remember that global investors in India are investing for a period of more than two years.
Usd/inr August 2014: It needs to trade over 60.66 to rise to 60.96-61.12. Key support till Friday is at 60.52.
Euro/inr August 2014: It needs to trade over 80.80 to be in intraday bullish zone. As long as euro/inr trades below 80.80 the chances of a fall to 80.39 and 80.18.
Gbp/Inr August 2014: Key support is at 100.66 and there will be sellers below 100.66 to 100.30 and 99.74. Only a break of 101.12 will resume the bullish trend.
Jpy/Inr August 2014: It needs to trade over 58.75 to be in intraday bullish zone. There will be sellers only below 58.75 to 58.3675.
My personal view that is monsoon rain in North India and North West India is not as good as it might appear officially. Overall also progress of monsoon has been either too much rain or too little rain. This will affect rural consumer demand. Excessive optimism on the Indian economy in the short term could backfire. Just remember that global investors in India are investing for a period of more than two years.
Usd/inr August 2014: It needs to trade over 60.66 to rise to 60.96-61.12. Key support till Friday is at 60.52.
Euro/inr August 2014: It needs to trade over 80.80 to be in intraday bullish zone. As long as euro/inr trades below 80.80 the chances of a fall to 80.39 and 80.18.
Gbp/Inr August 2014: Key support is at 100.66 and there will be sellers below 100.66 to 100.30 and 99.74. Only a break of 101.12 will resume the bullish trend.
Jpy/Inr August 2014: It needs to trade over 58.75 to be in intraday bullish zone. There will be sellers only below 58.75 to 58.3675.
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