Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 84.00-87.00 1.0900-1.1600 1.2700-1.3750 140.00-160.00 0.8000-0.8800
Sentiment against USD Negative Neutral Neutral Neutral Neutral
Forecast for the day 85.25-85.65 1.1295-1.1390 1.3400-1.3525 143.15-144.10 0.8195-0.8235

Rupee opened tad higher at 85.52 levels against previous close of 85.58 levels. Over a weekend, OPEC decided to increase the oil output by 411K barrels per day from July. Equity market benchmarks are trading flat.


DXY is trading lower at 99.28 level. The US dollar index steadied at 99.4 on Friday and is set for a fifth straight monthly loss, its longest losing streak in five years. Traders are getting nervous as once again President Trump’s trade policies could hurt the US Dollar’s safe haven appeal and weaken the economy. On Friday, President Trump accused China of breaking a recent trade deal thereby increasing trade tensions with China.


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