Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 85.50-88.50 1.1000-1.1900 1.3200-1.3900 138.00-160.00 0.7800-0.8600
Sentiment against USD Neutral Negative Negative Neutral Neutral
Forecast for the day 86.80-87.40 1.1570-1.1675 1.3420-1.3550 147.00-148.00 0.8060-0.8100

Rupee opened lower at 87.16 levels, tracking the DXY gains in the overseas markets. Equity market benchmarks are trading flat with negative bias.


DXY is trading steady at 98.39 level. The dollar index advanced above 98.3 on Wednesday, extending its winning streak to a third session as investors awaited the Federal Reserve’s July meeting minutes for clues on the policy outlook. Two Fed governors had favoured 25 bps rate cut. Markets will next focus on Fed Chair Jerome Powell’s remarks at the Jackson Hole symposium for signals on whether the central bank may push back against market expectations for easing.


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