Most of the European markets are closed today. Traders will now start taking positions for Federal reserve meeting on 30th April. Economic data releases from India suggest that Indian economy is a consolidation phase with signals of stronger growth for the rest of the year. Prices of vegetables and other living essential are the only risk to Indian economy. Crude oil will be a risk only if Nymex crude oil prices trade over $110 for over a month. Initial reports suggest that Easter sales will be way above expectation in USA. This implies a taper by the Federal reserve till June. Trade in the technical. Intraday volatility will be high this week. Thursday currency futures markets are closed due to voting in Mumbai.
Usd/inr April 2014: Failure to break 60.80 this week will result in a fall to 59.96 and 59.36.
Euro/inr April 2014: It needs to break 84.30 this week else it will fall to 82.52 and 81.70. Jobbers watch 83.29.
Gbp/Inr April 2014: It needs to trade over 101.29 to target 101.85-102.30. There will be sellers only below 101.29 today
Jpy/Inr April 2014: There will be another wave of selling only below 58.77 today.
Usd/inr April 2014: Failure to break 60.80 this week will result in a fall to 59.96 and 59.36.
Euro/inr April 2014: It needs to break 84.30 this week else it will fall to 82.52 and 81.70. Jobbers watch 83.29.
Gbp/Inr April 2014: It needs to trade over 101.29 to target 101.85-102.30. There will be sellers only below 101.29 today
Jpy/Inr April 2014: There will be another wave of selling only below 58.77 today.
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