The government freeing up some of the goods for defence production is a step in the right direction. It is making more and more changes to make India an industry friendly nation. More and more global industries could set up manufacturing bases in India. This move will reduce Indias imports in the long term and also help create more jobs. There is nothing much on the global front.
The war in Iraq could ease as the holi month of “Ramzan” begins from Sunday. This could bring down global crude oil prices. Lower global crude oil prices will result in gains for the rupee against the US dollar
Usd/inr July 2014: In case rupee does not break 61.10 by 11th July, the chances of a fall to 59.30 and 58.70 will be very high. Initial support is at 60.3200 and there will be sellers only below 60.3200
Euro/inr July 2014: It needs to trade over 82.40 to target 82.76-83.13. There will be sellers only below 82.40 to 82.15-81.90.
Gbp/Inr July 2014: Key resistance is at 103.07 and a break of 103.07 will result in 103.36-103.96. Initial support is at 102.85 and there will be sellers only below 102.85.
Jpy/Inr July 2014: A break of 59.86 will result in 60.15-60.40. Initial support is at 59.48.
The war in Iraq could ease as the holi month of “Ramzan” begins from Sunday. This could bring down global crude oil prices. Lower global crude oil prices will result in gains for the rupee against the US dollar
Usd/inr July 2014: In case rupee does not break 61.10 by 11th July, the chances of a fall to 59.30 and 58.70 will be very high. Initial support is at 60.3200 and there will be sellers only below 60.3200
Euro/inr July 2014: It needs to trade over 82.40 to target 82.76-83.13. There will be sellers only below 82.40 to 82.15-81.90.
Gbp/Inr July 2014: Key resistance is at 103.07 and a break of 103.07 will result in 103.36-103.96. Initial support is at 102.85 and there will be sellers only below 102.85.
Jpy/Inr July 2014: A break of 59.86 will result in 60.15-60.40. Initial support is at 59.48.
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