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
EUR/USD holds positive ground above 1.0700, eyes on German CPI data
EUR/USD trades on a stronger note around 1.0710 during the early Monday. The weaker US Dollar below the 106.00 mark provides some support to the major pair. All eyes will be on the Federal Reserve monetary policy meeting on Wednesday, with no change in rate expected.
USD/JPY recovers 156.00 after testing 155.50 on likely Japanese intervention
USD/JPY has recovered some ground above 156.00 after crashing to 155.00 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
Gold tests critical daily support line, will it defend?
Gold price is seeing a negative start to a new week on Monday, having booked a weekly loss. Gold price bears the brunt of resurgent US Dollar (USD) demand and a risk-on market mood amid Japanese holiday-thinned market conditions.
XRP plunges to $0.50, wipes out recent gains as Ripple community debates ETHgate impact
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.