The Indian opposition parties have clearly started its intention of not making life easy for the National Democratic Alliance (NDA) in the Rajya Sabha. The month long Indian parliament session will begin from today. Key legislative bills needs to be passed in the Rajya Sabha including the Insurance bill. Traders will taking for next week’s Reserve bank of India meet. Speculation whether interest rates will be cut or not will affect the rupee.
Chinese interest rate cut will be bullish for rupee.
Usd/inr December 2014 (expiry on 29th December): It needs to trade over 62.07 today to rise to 62.3225 and 62.47. There will be sellers only below 62.07 with 61.87 as the key support.
Euro/inr December 2014 (expiry on 29th December): There will be another wave of selling below 76.87 to 76.62 and 76.39. Euro/inr needs to trade over 77.12 to be in intraday bullish zone and attract short covering.
Gbp/Inr December 2014 (expiry on 29th December): It needs to trade over 97.52 to rise to 97.79-98.39. There will be sellers only if cable trades below 97.22 in UK session.
Jpy/Inr December 2014 (expiry on 29th December): It can rise to 53.18 and 54.12 this week as long as it trades over 52.45. There will be another wave of selling only below 52.45.
Chinese interest rate cut will be bullish for rupee.
Usd/inr December 2014 (expiry on 29th December): It needs to trade over 62.07 today to rise to 62.3225 and 62.47. There will be sellers only below 62.07 with 61.87 as the key support.
Euro/inr December 2014 (expiry on 29th December): There will be another wave of selling below 76.87 to 76.62 and 76.39. Euro/inr needs to trade over 77.12 to be in intraday bullish zone and attract short covering.
Gbp/Inr December 2014 (expiry on 29th December): It needs to trade over 97.52 to rise to 97.79-98.39. There will be sellers only if cable trades below 97.22 in UK session.
Jpy/Inr December 2014 (expiry on 29th December): It can rise to 53.18 and 54.12 this week as long as it trades over 52.45. There will be another wave of selling only below 52.45.
Recommended Content
Editors’ Picks
EUR/USD fluctuates in daily range above 1.0600
EUR/USD struggles to gather directional momentum and continues to fluctuate above 1.0600 on Tuesday. The modest improvement seen in risk mood limits the US Dollar's gains as investors await Fed Chairman Jerome Powell's speech.
GBP/USD stabilizes near 1.2450 ahead of Powell speech
GBP/USD holds steady at around 1.2450 after recovering from the multi-month low it touched near 1.2400 in the European morning. The USD struggles to gather strength after disappointing housing data. Market focus shifts to Fed Chairman Powell's appearance.
Gold retreats to $2,370 as US yields push higher
Gold stages a correction on Tuesday and fluctuates in negative territory near $2,370 following Monday's upsurge. The benchmark 10-year US Treasury bond yield continues to push higher above 4.6% and makes it difficult for XAU/USD to gain traction.
XRP struggles below $0.50 resistance as SEC vs. Ripple lawsuit likely to enter final pretrial conference
XRP is struggling with resistance at $0.50 as Ripple and the US Securities and Exchange Commission (SEC) are gearing up for the final pretrial conference on Tuesday at a New York court.
US outperformance continues
The economic divergence between the US and the rest of the world has become increasingly pronounced. The latest US inflation prints highlight that underlying inflation pressures seemingly remain stickier than in most other parts of the world.