The Indian Rupee Spot Traded

The Indian Rupee spot traded on a flat note in yesterday’s trading session owing to persistent demand for US Dollar by importers and banks. Concerns over Donald Trump future policies have kept markets in a cautious mood.

Investors fear that Trump’s failure to repeal Obamacare may mean his pro-growth tax reform policies would hit a roadblock. On the contrary, domestic markets i.e. Sensex and Nifty traded in green amid rebound in global markets. Today, USDINR spot is likely to depreciate following mixed trading in Asian market equities

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 

Ways2Capita- JPYINR

JPYINR trading range for the day is 58.56-59.34. JPY dropped as dollar gained as investors looked ahead to a key test of Republican control of Congress and the presidency with the fate of a healthcare bill due for a vote. 

Japan's all industry activity recovered in January driven by the construction sector, data from the Ministry of Economy, Trade and Industry showed. Japan posted a merchandise trade surplus of 813.389 billion yen in February, the Ministry of Finance said.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 

GBPINR Trading Range For The Day Is 81.46-82.39

GBPINR trading range for the day is 81.46-82.39. GBP traded in range as speculation that BOE will raise rates within the next year was cooled by broader concerns about a Brexit-driven economic slowdown. 

British households' financial outlook worsened to the weakest level in more than three years in March on sharp inflation expectations. Moderate rates of activity growth in the UK had continued overall, according to Agent's summary of business conditions.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 

Ways2Capital - EURINR

EURINR trading range for the day is 70.46-70.97. Euro traded in range boosted by expectations for monetary tightening by the European Central Bank later this year. 

The economic recovery in the euro zone is steadily firming and survey results point to robust growth in the first quarter, despite ample global uncertainty, ECB said. German consumer sentiment unexpectedly fell to its lowest level in five months going into April, a survey showed.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 

Ways2Capital - USDINR

USDINR trading range for the day is 65.34-65.71. Rupee traded in range on dollar buying by private and foreign banks amid oil importers' month-end demand. 

An indicator signaling turning points in the Indian economy increased for the third successive month in February, the Conference Board said. Reserve Bank of India may announce new standing deposit facility to drain surplus liquidity from the banking system.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 

Indian Rupee Opens Higher At 65.48 Per Dollar



The Indian rupee gained marginally in the early trade on Friday. It has opened at 65.48 per dollar versus previous close 65.52.

Ashutosh Raina of HDFC Bank said, "The USD-INR pair continues to trade in a very tight range around the 65.50/dollar handle, with gains on account of strong portfolio flows getting offset by strong intervention."

We expect the pair to trade in the 65.30-65.70/dollar range for today," he added. The dollar hovered near a four-month low against the Japanese yen ahead of a vote on republican healthcare plans which is seen as a litmus test for President Trump's ability to deliver on promises.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717 

Sell USDINR Around 65.50 Target 65.30 Stop Loss 65.65

USD/INR futures traded with firm sentiments due to short covering from traders in last session. It failed to sustain at higher levels which indicate continuation of volatile sentiments in today’s session as well. Overall trend for USD/INR futures likely to remain sideways for intraday session due to short covering.

Next important support seen at 65.30 levels. USD/INR futures likely to trade with sideways sentiments and 65.40 will be the trend deciding level for intraday session. Higher side resistance seen at 65.62 levels. Technically, USD/INR futures may witness volatile price movement at lower levels due to short covering. Applying momentum Indicator RSI for 14-day period trending at 21.89 levels indicates that it is now trading in oversold zone and short covering may come at lower levels.

For Quick Trial – 8962000225 ✔
or mail us here: info@ways2capital.com
✆ - 0731-6626222 | Toll Free - 1800-3010-2007 
Give a Missed Call for Free Trial - 09699997717