• 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
  • October 12, 2023

FX – MORNING UPDATE :

FX Morning Update USD INR October 12, 2023

USDINR opened at 83.21 y’day and the pair traded in the 83.13-83.24 range. Spot USDINR closed at 83.19, loss of 6 ps for USD as against prior close of 83.25.

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

RBI reference rate was fixed at 83.23 on 11/10. Oct USD/INR closed at 83.25, loss of 7 ps for USD as compared to prior day’s close of 83.32. Oct Euro/INR closed at 88.30, GBP/INR at 102.31 and Yen/INR at 56.15. 1 year USDINR fwd premia was trading at around 1.83% p.a.  FX reserves declined by USD 3 bn and stood at USD 587 bn as on Sept 29 th.

PAIRS

RBI REF RATE (11/10)

USDINR

83.23

EURINR

88.25

GBPINR

102.27

JPYINR

55.89

In Oct, FPI’S have sold Rs 5132 Cr of Equities and bought Rs 1222 Cr of debt . In 2022-23 fiscal year, FII’S have net sold Rs 27593 Cr of Equities and have net bought Rs 838 Cr of debt.

Benchmark Nifty climbed 121 points (0.62%) y’day. US S&P climbed 18 points (0.43%) . Nikkei climbed 0.55% and Hang Seng climbed 1.27%.

Euro is now at 1.0622, Pound at 1.2315, Yen at 149.10.

Commodities: Gold is now at USD 1876 and WT1Crude at USD 83/Brent at USD 85.

Interest rates: USD 10 Yr yield is at 4.57% and 3 m libor closed at 5.65%. Indian 10 yr benchmark yield closed at 7.32%.

Economic news: Fed officials pointed to uncertainties around the economy, oil prices and financial markets as supporting “the case for proceeding carefully in determining the extent of additional policy firming that may be appropriate,” according to the minutes released on Wednesday from the Sept. 19-20 meeting.

ECB’s latest Consumer Expectations Survey for August paints a picture of an economy where consumers anticipate higher inflation rates but remain pessimistic about economic growth.

Indian CPI, IIP and US CPI are key data events for the day/week.

Data highlights: – US PPI climbed 0.5% m/m.

Thursday’s calendar : US weekly jobless claims and CPI

-UK industrial and manufacturing production.

USD/INR

 

  

 83.23

83.13

EUR/USD

1.0622

  

1.0635

1.0581

GBP/USD

1.2315

  

1.2338

1.2269

USD/JPY

149.10

  

149.37

148.43

Daily Support/Resistance table

Currency Pairs

Pivot

R1

R2

R3

S1

S2

S3

EURO/USD

1.0613

1.0645

1.0667

1.0699

1.0591

1.0559

1.0537

GBP/USD

1.2307

1.2345

1.2376

1.2414

1.2276

1.2238

1.2207

USD/JPY

148.94

149.45

149.88

150.39

148.51

148

147.57

USD/INR

83.18

83.24

83.30

 

83.12

83.06

 

MAJOR SUPPORTS/RESISTANCES AND TREND TABLE

Currency Pair

Supports

Resistances

Trend

Remarks

EURO/USD

1.0450/1.0250

1.0630/1.0740

DN

SIDE>1.0740

GBP/USD

1.2040/1.18

1.2275/1.2440/1.25

DN

SIDE>1.2275

USD/JPY

147.50/146.50

150

UP

SIDE<146.50

USD/INR

83.03/82.80

83.35/83.47

UP

SIDE<82.78

USD/CHF

0.9025/0.89

0.9250/0.9450

UP

SIDE<0.89

Technicals: Spot closed above 50 and 200 day moving averages.20 day moving average is at 83.14. 50 day moving average is at 82.95.200 day moving average is at 82.42. Daily MACD is in sell zone. Important support is at 82.80 and important resistance is at 83.35. Spot closed above the average level of the day.

Intraday supports and resistances for Oct contract are:

PP: 83.25, S1:83.20, S2:83.15, R1:83.30, R2:83.35.             

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

However on directional basis, suggest the following:

USD exports be hedged at 83.30/83.50. Imports be hedged at 82.80/82.75 for 1 month.

 CROSS CURRENCY TECHNICALS:

EURO/USD: The pair is below major moving averages. Major resistance is at 1.0740/1.0945. Next major support is at 1.0450/1.0250. Daily MACD is in buy zone, implying an important bottom at 1.0450. Weekly MACD is in sell zone, implying important top at 1.1275.

GBP/USD: The pair is below 50 and 200 day averages. Daily MACD is in buy zone, implying important bottom at 1.2035 and weekly MACD is in sell zone, implying important top at 1.3145. Important support is at 1.2035/1.18. Important resistance is at 1.2440/1.2495.

USD/YEN: The pair is above 50 and 200 day major averages. Daily MACD is in sell zone, implying important top at 150.20. Important resistance is at 150.20 and support is at 147.50/146.50.

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.