Insignia
Consultants
New Delhi
Wednesday,
August 29, 2018
TIME:
9:32 am IST
DAILY FOREX REPORT FOR
EXPORTERS AND IMPORTERS
(inter-bank prices below)
US second quarter GDP
number can make or break the US dollar.
Trading volumes will fall as the week progresses. This the last holiday
week for Europeans and Americans. The correction in the US dollar is due to
profit taking and nothing else. Monday USA is closed. Traders will start taking
positions for next week after the US GDP numbers today. I prefer to be on the
sidelines today.
India
Month end factors and
option covering has resulted in rupee opening weaker. Rupee should fall once
the settlement of August futures is done. RBI is not intervening this time to
prevent weakness. This is a very positive sign.
One Support: 90.1250
One Resistance: 90.9250
o Cable can rise to 90.9250 as long as
it trades over 90.1250.
o Sellers will be there only below
90.1250 today.
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Disclaimer: Any opinions as to the commentary, market
information, and future direction of prices of specific currencies, crypto
currency, metals and commodities reflect the views of the individual analyst,
In no event shall Insignia Consultants or its employees have any liability for
any losses incurred in connection with any decision made, action or inaction
taken by any party in reliance upon the information provided in this material;
or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed
as, investment advice. Prepared by Chintan Karnani
NOTES TO THE ABOVE
REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON
DAILY CLOSING BASIS
ALL PRICES ARE IN INDIAN RUPEE UNLESS
OTHERWISE SPECIFIED
Indian Standard Time (IST): +5:30 GMT
Current Market Price (CMP)
All foreign exchange prices are for
inter-bank rates.
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