Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 92.50-95.25 1.1250-1.2100 1.2800-1.3700 150.00-162.50 0.7400-0.8300
Sentiment against USD Negative Positive Positive Positive Positive
Forecast for the day 93.50-94.50 1.1465-1.1575 1.3225-1.3325 159.25-160.40 0.7940-.8015

  • Spot rupee ended at 94.77/78 to a dollar after opening the day at 93.59/60. The rupee opened sharply higher today, but month-end short covering saw the pair end almost unchanged from previous close. Equity market benchmarks ended about 2.22 lower today. Markets are closed tomorrow for Mahavir Jayanthi.
  • DXY is trading sharply higher at 100.2850 level. The DXY is holding above 100 level after rising for the fourth straight session supported by safe-haven demand as the Middle East conflict show no signs of end in sight. To add to the tensions, President Trump said that he could take the oil in Iran and seize its export hub on Kharg island, echoing the US military operation in Venezuela. Meanwhile, the Iran-backed Houthi militants in Yemen also joined the conflict and attacked Israel.
  • Important data releases scheduled today: No major data releases from the US tonight.

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