CURRENCY OUTLOOK FOR THE DAY
Currency Rate* Trend Support Resistance
80.46 SIDEWAYS 80.14/79.91 80.73/80.95
1.3495 SIDEWAYS 1.3460/1.3433 1.35361.3565
98.77 SIDEWAYS 98.55/98.30 99.20/99.45
1.6030 SIDEWAYS 1.5978/1.5947 1.6057/1.6090
62.90 SIDEWAYS 62.63/62.44 63.19/63.36
84.88 SIDEWAYS 84.68/84.45 85.28/85.50
63.71 SIDEWAYS 63.43/63.23 63.96/64.16
100.76 SIDEWAYS 100.55/100.30 101.30/101.45
Note: The above levels are only for intraday trading.
Today’s Major Economic Releases
Time (IST) Currency Event Forecast Previous Adverse/Favourable/Neutral
13:30 EUR EUR German IFO - Business Climate 108 107.5 Favourable
13:30 EUR EUR German IFO - Current Assessment 112.6 112 Favourable
13:30 EUR EUR German IFO - Expectations 104 103.3 Favourable
Major Market Update
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courts at Delhi.
The dollar remained lower after a two-day slide versus the yen as the U.S. government
moves closer to a shutdown with lawmakers wrangling over the debt limit.
The Canadian dollar gained for the first time in three days before a report tomorrow
forecast to show retail sales rebounded in July from the worst monthly decline this year.
The Federal Reserve’s surprise decision to delay tapering stimulus as inflation remains
subdued suggests Bank of Japan Governor Haruhiko Kuroda faces an uphill battle to stoke
price increases with quantitative easing.
European Central Bank President Mario Draghi said he’s ready to deploy another long-term
refinancing operation to provide funds to Europe’s banking system if needed.
The Swiss franc is still highly valued and the central bank’s currency ceiling remains
essential for safeguarding the economy, Swiss National Bank President Thomas Jordan
The rupee and government bonds fell for the second straight trading day as foreign
investors unwound positions in the equity markets on dampened hopes.