Gains in the US dollar will prevent rupee from sharp gains. Albeit there can be mild weakness today and thereafter a range bound trade. Falling crude oil prices will be a boon to Indian economy and Indian economic planners. Thereafter depending on the monsoon affect, interest rates in India could see an earlier than expected interest rate cut. The next one month will be crucial for India. The NDA government is in state elections mode. Some the bitter pills could be delayed till then. US economic data releases point to steady growth to higher growth.
Indian stock markets are partly gaining at the expense of Russia and Europe. Indian stock markets will fall and rupee will see a mild phase of weakness if at all there is a compromise between European Union and Russia.
Usd/inr August 2014: A break of 61.05 will result in 61.26-61.76. Initial support is at 60.79 and there will be sellers only below 61.05.
Euro/inr August 2014: A fall below 81.05 will pave the way for 80.80 and 80.39. Overall euro/inr is bearish as long as it trades below 81.56.
Gbp/Inr August 2014: Key support is at 101.12 and there will be sellers below 101.12 to 101.02 and 100.87. Only a break of 101.52 will resume the bullish trend.
Jpy/Inr August 2014: There will be a technical break down below 59.06 to 58.75 and 58.37. Only a break of 59.42 will resume the intraday bullish zone.
Indian stock markets are partly gaining at the expense of Russia and Europe. Indian stock markets will fall and rupee will see a mild phase of weakness if at all there is a compromise between European Union and Russia.
Usd/inr August 2014: A break of 61.05 will result in 61.26-61.76. Initial support is at 60.79 and there will be sellers only below 61.05.
Euro/inr August 2014: A fall below 81.05 will pave the way for 80.80 and 80.39. Overall euro/inr is bearish as long as it trades below 81.56.
Gbp/Inr August 2014: Key support is at 101.12 and there will be sellers below 101.12 to 101.02 and 100.87. Only a break of 101.52 will resume the bullish trend.
Jpy/Inr August 2014: There will be a technical break down below 59.06 to 58.75 and 58.37. Only a break of 59.42 will resume the intraday bullish zone.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of US jobs report
EUR/USD stays in a consolidation phase above 1.0700 after closing the previous two days in positive territory. Investors eagerly await April jobs report from the US, which will include Nonfarm Payrolls and Unemployment Rate readings.
GBP/USD advances to 1.2550, all eyes on US NFP data
The GBP/USD pair trades on a stronger note around 1.2550 amid the softer US Dollar on Friday. Market participants refrain from taking large positions as focus shifts to April Nonfarm Payrolls and ISM Services PMI data from the US.
Gold remains stuck near $2,300 ahead of US NFP
Gold price struggles to gain any meaningful traction and trades in a tight channel near $2,300. The Fed’s less hawkish outlook drags the USD to a multi-week low and lends support to XAU/USD ahead of the key US NFP data.
XRP edges up after week-long decline as Ripple files letter in reply to SEC’s motion
Ripple filed a letter to the court to support its April 22 motion to strike new expert materials. The legal clash concerns whether SEC accountant Andrea Fox's testimony should be treated as a summary or expert witness.
US NFP Forecast: Nonfarm Payrolls gains expected to cool in April
The NFP report is expected to show that the US economy added 243,000 jobs last month, sharply lower than the 303,000 job creation seen in March. The Unemployment Rate is set to stay unchanged at 3.8% in the same period.