Traders are still assessing the impact of Greece state elections. FOMC meet will be the key. A softer tone on interest rates by the Federal Reserve can result in rupee falling below 60.00 against the US dollar in the inter-bank market. There are more positive domestic factors than negative factors.
Usd/inr February 15 (expiry on 25th February 15):
Euro/inr February 15 (expiry on 25th February 15):
Gbp/Inr February 15 (expiry on 25th February 15):
Jpy/Inr February 15 (expiry on 25th February 15):
Usd/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 62.03 stop loss 61.88 for 62.22-62.42
- Jobbers aggressive sell below: 61.71 stop loss 61.8250 for 61.4950-61.2525
- Usd/inr can fall to 61.3425 and 60.7650 in case it does not break and trade over 62.2250 next Friday. Today there will be sellers only if usd/inr trades below 61.70 in UK session after 2:00 pm IST.
Euro/inr February 15 (expiry on 25th February 15):
- Jobbers aggressive buy over: 69.62 (after 2pm IST) stop loss 69.74 for 69.86-70.24
- Jobbers aggressive sell below: 69.2250 stop loss 69.4125 for 69.0875 and 68.8825
- Euro/inr needs to trade over 69.62 to be intraday bullish zone and rise to 70.7625 and 71.70. Key weekly support is at 68.8225. The next wave of selling will be only if euro/inr trades below 68.8225 on Thursday after FOMC meet.
Gbp/Inr February 15 (expiry on 25th February 15):
- Key support is at 93.0025. Cable can rise to 94.3250 as long as it trades over 93.0025. There will be sellers only below 93.0025 today. Key weekly support s at 89.62.
Jpy/Inr February 15 (expiry on 25th February 15):
- Yen/inr needs to fall below 51.60 or break and trade over 52.70 for direction. One needs to be careful going short at current prices.
Recommended Content
Editors’ Picks
AUD/USD could extend the recovery to 0.6500 and above
The enhanced risk appetite and the weakening of the Greenback enabled AUD/USD to build on the promising start to the week and trade closer to the key barrier at 0.6500 the figure ahead of key inflation figures in Australia.
EUR/USD now refocuses on the 200-day SMA
EUR/USD extended its positive momentum and rose above the 1.0700 yardstick, driven by the intense PMI-led retracement in the US Dollar as well as a prevailing risk-friendly environment in the FX universe.
Gold struggles around $2,325 despite broad US Dollar’s weakness
Gold reversed its direction and rose to the $2,320 area, erasing a large portion of its daily losses in the process. The benchmark 10-year US Treasury bond yield stays in the red below 4.6% following the weak US PMI data and supports XAU/USD.
Bitcoin price makes run for previous cycle highs as Morgan Stanley pushes BTC ETF exposure
Bitcoin (BTC) price strength continues to grow, three days after the fourth halving. Optimism continues to abound in the market as Bitcoiners envision a reclamation of previous cycle highs.
US versus the Eurozone: Inflation divergence causes monetary desynchronization
Historically there is a very close correlation between changes in US Treasury yields and German Bund yields. This is relevant at the current juncture, considering that the recent hawkish twist in the tone of the Federal Reserve might continue to push US long-term interest rates higher and put upward pressure on bond yields in the Eurozone.