Indian Rupee Off Initial Lows

10:51AM The Indian rupee dropped lower on Thursday, November 28, 2013 as month-end dollar demand from oil companies is seen slowly returning to the market. Moreover, broad dollar gains triggered by positive US economic data overnight and uncertainty in the US about the $85-billion-a-month fiscal stimulus is also weighing on the currency. However, strength in[…]

Rupee ends at days high 27 November

The spot rupee started the day marginally in green at 62.45, up 6 paise from its previous close of 62.51, as against the US dollar. Soon, the domestic currency extended its gains and traded on a strong note fot the rest of the trading hour. Finally, the Indian rupee ended at days high at 62.15,up[…]

Rupee trades stronger

Nov 27, 02:45 PM The spot rupee has extended its gains, the Indian currency has climbed to a high of 62.23 as against the US dollar. The domestic currency is now  trading with a gain of 0.4 per cent (up 26 paise) at 62.25. Meanwhile, the rupee December futures also jumped to high of 62.70 per dollar.[…]

Currency Daily Technical Report 27 November

Highlights  US Building Permits increased by 1.03 million in the month of Oct. Indian Rupee trade on a flat note & erased gains in yesterday’s trade. US CB Consumer Confidence slipped to 70.4-level in current month. Asian markets are trading on a negative note today on the back of unexpected decline in consumer confidence data[…]

Daily Currency Technical Report 26 November

Highlights UK’s BBA Mortgage Approvals fell unexpectedly to 42,800 in Oct’13. US Pending Home Sales declined by 0.6 percent in the last month. The BoJ expressed concerns over reaching the target inflation. Asian markets are trading on a mixed note today on the back of unfavorable economic data from US in yesterday’s trade led to[…]

Dollar Takes Aim at Monthly High, SPX 500 Reversal Risk Remains

Talking Points: US Dollar Moves to Challenge November Swing Top S&P 500 Sets New High But Reversal Risk Remains Gold Vulnerable to Deeper Losses, Oil May Recover Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. ** US DOLLAR TECHNICAL ANALYSIS – Prices rebounded from resistance-turned-support at[…]

Currency Daily Technical Report 21 November 2013

Highlights US Retail Sales increased by 0.4 percent in the last month. German PPI declined by 0.2 percent in the month of October. China’s HSBC Manufacturing PMI fell to 50.4-mark in November. Asian markets are trading on a mixed note today after US Federal Reserve minutes yesterday signaled that QE tapering is possible in the[…]

Daily Currency Technical Report 20 November

Highlights Indian Rupee appreciated for 4th straight session yesterday. German ZEW Economic Sentiment gained to 54.6-mark in November. Japan’s Trade Balance was at a deficit of 1.07 trillion Yen in October. US Employment Cost Index was at 0.4 percent in Q3 of 2013. Asian markets are trading on a mixed note today after Federal Reserve[…]

Currency Daily Market Technical Report 18 November

Highlights  India’s Wholesale Price Index (WPI) rose to 7 percent in October.  US Industrial Production declined by 0.1 percent in the last month.  Euro Zone’s Core CPI gained by 0.8 percent in the month of October. Asian markets are trading on a positive note today on the back of statement from Federal Reserve nominee Janet[…]

US Dollar Rally Poised to Resume, SPX 500 at Risk of Reversal

Talking Points:     US Dollar Appears Poised to Resume its Advance after a Correction     S&P 500 Looks Vulnerable After Prices Set Yet another Record High     Gold, Crude Oil Technical Positioning Hints Gains May be Ahead Can’t access to the Dow Jones FXCM US Dollar Index? Try the USD basket on Mirror Trader. US[…]

US Dollar Chart Gains, SPX 500 Vulnerable at Record High

US Dollar technical positioning continues to favor gains after a brief pullback. The SPX 500 appears vulnerable after setting a new record high. Talking Points: US Dollar Chart Positioning Favors Gains After Corrective Pullback S&P 500 Sets New Record High But Bullish Momentum May Unravel Gold May Be Shaping Double Bottom, Crude Oil Could Start[…]

Indian Rupee plummets to near 2 -month low

Domestic unit, a two -month low of Rs 63.35 against the U.S. dollar weak money opened on 37.Rupee so far during the day fell further to a low of 63.52. Compared to previous close at 63.72 in the spot currency market, the Indian unit, about 22 cents or 0.35 percent to trade at 63.50 was[…]