Insignia Consultants
New Delhi
Friday, September 28, 2018
TIME: 9:08 am IST
DAILY FOREX REPORT FOR EXPORTERS AND IMPORTERS
(inter-bank prices below)
US dollar gained yesterday on the back of some solid US GDP
numbers. This implies greater chances of a December interest rate hike. Traders
are now positioning themselves for another quarter of US dollar gains. I am a
contrarian and expect the US dollar to fall. Trend of the US dollar after the
US nonfarm payrolls on 5th October will be the key. Focus in October
will be impact on global economy as a result of trade wars and interest rate
hikes in emerging markets like India, Indonesia and others. Fundamentals will
dictate currency values. Firm trend in the currency markets will be established
only after 8th October. Do not ignore geopolitical factors in the
final quarter of the year. They can affect currency markets substantially.
India
Imports duties have been increased in a number of items. The
government has said that there will be more curbs on imports to ensure that
rupee weakness does not become a runaway bride. Quarter end factors can
continue till Monday if there is some unexpected demand. Spot value date shifts
to 3rd October. Traders are factoring in a quarter percent interest
rate hike on 5th October. Volatility will rise. There will be quick
crash if rupee does not rise against the US dollar today.
One Support: 85.3450
One Resistance: 84.8250
o
Crash
or sell off will be there only below 85.3450.
o
Euro/inr
needs to trade over 84.8250 to zoom.
To View full report OR receive a free trial u can
call/mail/whatsapp/telegram us
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.
Insignia Consultants
New Delhi
Friday, September 28, 2018
TIME: 9:08 am IST
DAILY FOREX REPORT FOR EXPORTERS AND IMPORTERS
(inter-bank prices below)
US dollar gained yesterday on the back of some solid US GDP
numbers. This implies greater chances of a December interest rate hike. Traders
are now positioning themselves for another quarter of US dollar gains. I am a
contrarian and expect the US dollar to fall. Trend of the US dollar after the
US nonfarm payrolls on 5th October will be the key. Focus in October
will be impact on global economy as a result of trade wars and interest rate
hikes in emerging markets like India, Indonesia and others. Fundamentals will
dictate currency values. Firm trend in the currency markets will be established
only after 8th October. Do not ignore geopolitical factors in the
final quarter of the year. They can affect currency markets substantially.
India
Imports duties have been increased in a number of items. The
government has said that there will be more curbs on imports to ensure that
rupee weakness does not become a runaway bride. Quarter end factors can
continue till Monday if there is some unexpected demand. Spot value date shifts
to 3rd October. Traders are factoring in a quarter percent interest
rate hike on 5th October. Volatility will rise. There will be quick
crash if rupee does not rise against the US dollar today.
One Support: 85.3450
One Resistance: 84.8250
o
Crash
or sell off will be there only below 85.3450.
o
Euro/inr
needs to trade over 84.8250 to zoom.
To View full report OR receive a free trial u can
call/mail/whatsapp/telegram us
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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