• BUSINESS ENQUIRY :
  • +91 80122 78000
  • BUSINESS ENQUIRY :
  • 044 4032 9999 / 044 4020 5050

Business Enquiry :

+91 80122 78000

Business Enquiry :

044 4032 9999 / 044 4020 5050

FX – MORNING UPDATE :

FX – MORNING UPDATE :
  • By Goodwill
  • No Comments
  • August 14, 2024

FX – MORNING UPDATE :

USDINR opened at 83.95 y;’day and the pair traded in the 83.945-83.975 range. Spot USDINR closed at 83.97, gain of 1 ps for USD as against prior close of 83.96.

Thank you for reading this post, don't forget to subscribe!

RBI reference rate was fixed at 83.97 on 12/08. Aug USD/INR closed at 84, gain of 1 ps for USD as compared to prior day’s close of 83.99. Aug Euro/INR closed at 91.78, GBP/INR at 107.38 and Yen/INR at 57. 1 year USDINR fwd premia was trading at around 2.02% p.a.  FX reserves stood at USD 674.91 bn, as on Aug 2 nd. Reserves climbed by US D 7.5 bn w/w.

PAIRS

RBI REF RATE (13/08)

USDINR

83.97

EURINR

91.82

GBPINR

107.53

JPYINR

56.80

In Aug , FPI’S have sold Rs 10577 Cr of Equities and bought Rs 4533 Cr of debt . In FY 23-24, FII’S have net bought Rs 206279 Cr of Equities and have net bought Rs 123120 Cr of debt.

Benchmark Nifty declined 208 points (0.85%) y’day. US S&P climbed 90 points (1.68%). Nikkei climbed 3.37% and Hang Seng climbed 0.36 % y’day.

Euro is now at 1.0930, Pound at 1.2765, Yen at 147.45.

Commodities: Gold is now at USD 2471 and WT1Crude at USD 79/Brent at USD 81.

Interest rates: USD 10 Yr yield is at 3.92% and 3 m libor closed at 5.37%. Indian 10 yr benchmark yield closed at 6.99%.

Economic news: Germany’s ZEW Economic Sentiment index took a significant hit in August, falling sharply from 41.8 to 19.2, well below the expected 30.6. This marks the steepest monthly decline since July 2022. Current Situation Index also worsened, dropping from -68.9 to -77.3. ZEW President Achim Wambach noted that the economic outlook for Germany is “breaking down.” He highlighted that this month’s survey revealed the sharpest decline in economic expectations over the past two years, not just for Germany, but also for the Eurozone, the US, and China.

USD declined after weaker than expected PPI. CPI data is awaited later tonight.

Data highlights: – US PPI climbed 0.1% m/m and Core PPI was flat.

-EU and German Zew survey dipped to 17.9 and 19.2 respectively.

-UK unemployment rate declined to 4.2% and claimant count change was reported at 135k.

Wednesday’s calendar : US CPI

-EU GDP Q/Q, Industrial production

-UK CPI, PPI, RPI (output)

USD/INR

 

  

 83.975

83.945

EUR/USD

1.0996

  

1.10

1.0913

GBP/USD

1.2868

  

1.2873

1.2763

USD/JPY

146.81

  

147.95

146.59

Daily Support/Resistance table

Currency Pairs

Pivot

R1

R2

R3

S1

S2

S3

EURO/USD

1.0970

1.1027

1.1057

1.1114

1.0940

1.0883

1.0853

USD/JPY

147.16

147.73

148.52

149.09

146.37

145.80

145.02

GBP/USD

1.2834

1.2905

1.2944

1.3015

1.2795

1.2724

1.2685

USD/INR

83.96

83.97

83.99

 

83.945

83.93

 

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Currency Pair

Supports

Resistances

Trend

Remarks

EURO/USD

1.0850/1.0760

1.1040

UP

DN<1.0760

GBP/USD

1.2650

1.2850/1.3050

SIDE

DN<1.2650

USD/JPY

142

149/152

DN

SIDE>152

USD/INR

83.76/83.76

84.10/84.25

UP

SIDE<83.56

USD/CHF

0.84

0.8730

DN

SIDE>0.8730

Technicals: Spot closed above 50 and 200 day moving averages.20 day moving average is at 83.78. 50 day moving average is at 83.61. 200 day moving average is at 83.28. Daily MACD is in buy zone. Important support is at 83.76/83.56 and important resistance is at 84.25. Spot closed above the average level of the day.

Intraday supports and resistances for Aug contract are:

PP: 83.99, S1:83.98, S2:83.96, R1:84.01, R2:84.02.             

Hedging strategy: Hedging decisions be taken according to comfort and accounting rates.

However on directional basis, suggest the following:

USD exports be hedged above 84.

CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is above major moving averages. Major resistance is at 1.1040. Next major support is at 1.0775. Daily MACD is in buy zone, implying an important bottom at 1.0775. Weekly MACD is in buy zone, implying important bottom at 1.06.

GBP/USD: The pair is between major moving averages. Daily MACD is in sell zone, implying important top at 1.3050 and weekly MACD is in buy zone, implying important bottom at 1.23. Important support is at 1.2650. Important resistance is at 1.2850/1.3050.

USD/YEN: The pair is below major averages. Daily MACD is in sell zone, implying important top at 162. Important resistance is at 149/152 and support is at 142.

Click to open an Account : https://ekyc.gwcindia.in/client/

For all your investment needs feel free to reach us.
Give us Missed Call us on 90037 90027 . For Support : 044-40329999

Risk Disclosures
on Derivatives

  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to ₹ 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Source: SEBI study dated January 25, 2023 on “Analysis of Profit and Loss of Individual Traders dealing in equity Futures and Options (F&O) Segment”, wherein Aggregate Level findings are based on annual Profit/Loss incurred by individual traders in equity F&O during FY 2021-22.

Attention Investor

KYC is one time exercise while dealing in securities markets – once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc), you need not undergo the same process again when you approach another intermediary. No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor’s account. Prevent Unauthorized Transactions in your Demat account\Trading account: Update your Mobile Number with your Depository Participant\Exchange. Receive alerts on your Registered Mobile for all debit and other important transactions in your Demat account\Trading account directly from Depository\Exchange on the same day………issued in the interest of investors.
The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time. The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.
Please DO NOT disclose your User ID and/or Passwords to any person, even Goodwill staff never ask you to share the same. Goodwill is NEITHER liable for any loss arising from your sharing of your password with anyone, NOR from its consequent unauthorized use.

Invest In

Others

 

Important Links

Useful Links

Flow Chart

Policy

 

Investor Complaints

Important Links

Get Social

Facebook Twitter Youtube
Goodwill Wealth Management Pvt Ltd |       MCX : 11095 | SEBI Regn. No : INZ000177036
Clearing Code |       NSE : M52003 | BSE : 6648
CDSL DP |       DP ID : 12084200 | SEBI Regn. No : IN - DP - CDSL - 309 - 2017
Research Analyst |       SEBI Regn. No : INH200005179
Mutual Funds |  ARN : 182218

Proprietary Trading Disclosure:In terms of provisions of the Rules, Bye-Laws and Business Rules of the Exchange and with reference to circular MCX/T&S/147/2016 dated May 17, 2016 regarding Disclosure of Proprietary Account Trading by broker to client.,Pursuant to SEBI Circular Number SEBI/MRD/SEC/Cir-42/2003 dated November 19, 2003 & SEBI/HO/CDMRD/DMP/CIR/P/2016/49 dated April 25, 2016 GOODWILL WEALTH MANAGEMENT PVT LTD. Discloses to its clients about its policies on proprietary trades.