Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 94.50-97.25 1.1050-1.2100 1.2800-1.3900 151.50.-160.00 0.7800-0.8600
Sentiment against USD Negative Positive Positive Negative Negative
Forecast for the day 94.60-95.10 1.1175-1.1255 1.3275-1.3375 157.55-158.40 0.8255-0.8280

Rupee opened at 94.71 level compared to 95.06 previous close. Equity market benchmarks are trading with marginal gains.


The US dollar received mixed signals from the latest economic data, as stronger-than-expected producer prices, retail sales and employment indicators reinforced expectations that the Federal Reserve would maintain a restrictive monetary policy for longer.


US producer prices surged 1.3 m/m in September, significantly exceeding the 0.5 forecast, while core producer prices rose 0.7, highlighting persistent inflationary pressures. Retail sales increased 0.8, beating expectations, although spending growth excluding gasoline was considerably weaker at 0.2. Initial jobless claims remained low at 199,000, indicating continued resilience in the labour market.


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