Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 94.75-96.50 1.1050-1.2100 1.2800-1.3900 151.50.-160.00 0.7800-0.8600
Sentiment against USD Positive Negative Neutral Positive Positive
Forecast for the day 95.95-96.45 1.1120-1.1235 1.3135-1.3245 157.70-158.50 0.8280-0.8320

Spot rupee opens at 96.22 to a dollar level today against previous close at 96.32 level. Equity market benchmarks are trading about 0.6 higher in early trades.


DXY traded higher at 102.44, with the dollar remaining firm despite a much weaker-than-expected US jobs report. September NFP rose only 29K vs. 90K expected, while the unemployment rate increased to 4.2. Previous months were also revised lower, highlighting a clear loss of hiring momentum. Wage growth slowed to 0.1 m/m, with annual growth at 3.0.


The soft labour-market data, alongside weaker PCE inflation, reduced expectations for a rate hike this month. Markets continue to see a strong possibility of a December hike, however, as inflation and input-cost pressures remain elevated.


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