Forex Market News

Buy USDINR Strategy 66.69 – 66.66; Target Of 66.90

US dollar index is trading at 95 . 84 , appreciating against all the majors after better than expected economic data was reported yesterday . Manufacturing PMI data from the US for the month of September was stronger than expected and pushed the US dollar higher . There is no major data from the US today but the current strength of the US dollar is set to stay.
The 2-day MPC meeting concludes today, with markets expecting Reserve Bank of India (RBI) to maintain a status quo. However, a surprise cut can pleasantly surprise the markets. The USD-INR pair after briefly approaching 67/dollar levels is back to 66.50/dollar. We expect the pair to trade in the 66.30-66.80/USD range in the near term, with strong FII and FDI inflows to continue.” “The bonds are expected to be rangebound going into the policy today.
For Quick Trial – 8962000225 ✔
or mail us here:
✆ – 0731-6626222 | Toll Free – 1800-3010-2007
Give a Missed Call for Free Trial – 09699997717

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s