FOREX TRADING TIPS IN INDIA: Rupee strengthens by 12 paise vs dollar

The Indian rupee resumed trade after a long break. It opened at 66.10/$ higher by 12 paise in early trade on Monday. RBI’s involvement in the Forex markets has provided lot of stability to the Indian rupee. On the domestic front, India’s current account widened to 1.6% of GDP during the second quarter of the FY 2015‐16, when compared with the reading of 1.2% during the prior quarter. However on yoy basis, the deficit has narrowed from the 2.2% during the same quarter last year.

On global macroeconomic front, US Q3 GDP growth was downwardly revised to 2%, when compared with the earlier estimate of 2.1%. Consumer spending grew at a 3%, in line with the prior projections. Healthy consumer spending is attributed to strengthening employment and housing markets. Low energy prices and ensuing rise in personal savings also boosted spending.

On Wednesday, Indian rupee ended at 66.21/$, higher by 11 paise. The currency touched a high and low of 66.07 and 66.10 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.20 and for Euro stood at 72.41 on December 23, 2015. While, the RBI’s reference rate for the Yen stood at 54.74, the reference rate for the Great Britain Pound (GBP) stood at 98.2967.  

BUY GBPINR ABOVE ABOVE 98.71 TGS 98.81-98.91-99.01 STOPLOSS 98.51 

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Rupee opens higher at 66.31/$

Indian rupee extended its gain for the sixth consecutive session and opened at 66.31/$ higher by 4 paise in early trade on Tuesday as against the previous close of 66.39/$.

On Monday, Indian rupee was up against the greenback, helped by sharp fall in oil prices and general softness in US dollar against the basket of currencies. RBI’s intervention in the Forex markets has also provided lot of stability to the Indian rupee.

 RBI has earlier announced plans of intervening in the exchange traded currency derivative markets as well in order to shield the currency from the volatility and repercussions of US Fed rate hike.

BUY GBPINR.DEC ABOVE 98.75 TGS 98.85-99.05-100.20 STOPLOSS 98.55

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Indian Currency Update: Rupee opens higher; up 9 paise against dollar

The Indian rupee opened higher by 9 paise at 67.03/$ in early trade on Tuesday, as against the previous close of 67.09/$. On the domestic front, India's retail inflation during November spiked to 14‐month high, fuelled by rise in food prices. In this respect, CPI reading registered a rise of 5.41% against the October number of 5.4%. Meanwhile, wholesale inflation declined by 1.99% during November, 13th consecutive monthly contraction. However, wholesale food prices gained 5.2% on yoy basis, a steep rise when compared with October's reading of 2.44%.

FOREX CALL : BUY GBPINR ABOVE ABOVE 101.75 TGS 101.85-101.95-102.05 STOPLOSS 101.55 

On the global front, Global cues are mixed. US market notched some gains.Japanese Nikkei is down 0.8%  while China's Shanghai Composite and South Korea's Kospi have dropped marginally. Hong Kong's Hang Seng is trading flat for the moment. On the global front, investors will prefer to remain on the sidelines well ahead of the outcome of US FOMC meeting. Although 25 basis points hike is a done deal, the focus will lie on the language of the policy statement. Fed has an onerous task of striking a balance by hiking rates as well as pacifying the markets by reiterating that the process of policy normalization will be gradual and gentle in order to avert the US economy from tilting into recession.

On Monday, Indian rupee ended at 67.09/$, lower by 21 paise. The currency touched a high and low of 67.13 and 67.22 respectively. The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 66.99 and for Euro stood at 73.46 on December 14, 2015. While, the RBI’s reference rate for the Yen stood at 55.29, the reference rate for the Great Britain Pound (GBP) stood at 101.7840.

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Forex trading tips: Dollar supported vs. yen, euro on rate hike hopes

The dollar was supported against the yen and the euro on Friday, as demand for the greenback remained broadly supported by growing expectations for a December rate hike by the Federal Reserve.

USD/JPY  was steady at 122.90, not very far from Wednesday's three-month high of 123.69.

BUY GBPINR ABOVE ABOVE 101.13 TGS 101.23-101.33-101.43 STOPLOSS 100.93

The US Dollar Index which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.17% at 99.25, re-approaching Wednesday's seven-month high of 99.96.

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FOREX TRADING TIPS IN INDIA: Trade limited but trade profitable.

The dollar eased against the other major currencies on Wednesday, but remained close to seven month highs hit in the previous session on heightened expectations for a rate increase by the Federal Reserve next month.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, slid 0.15% to 99.56, holding just below Tuesday’s highs of 99.84, the strongest since April 13.

Demand for the dollar continued to be underpinned by expectations that the Fed will hike rates before the years end.

Data on Tuesday showing that U.S. inflation rose in October . U.S. inflation rises 0.2% in October; core prices up 0.2%

FOREX CALL : BUY GBPINR ABOVE ABOVE 101.10 TGS 101.20-101.30-101.40 STOPLOSS 100.90 

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Investors will have to deal with high volatility, without any major index returns in the coming months. 

The impending US Fed rate hike, possible currency devaluation by China, shale oil crisis, Russian aggression and the Middle East conflict are the global factors to contend with. 

Clearly, given the backdrop of global events, foreign liquidity flows would always be in question in the medium term. Back home, similar to Bihar, Government will have an uphill task in Assam, West Bengal and Tamil Nadu in 2016.

 However, at no cost should we ignore the macroeconomic tailwinds. Reducing current account deficit and fiscal deficit will have a resounding effect on the market.

 And if majority of analysts around the world are to be believed, then commodity prices are likely to remain subdued, which should continue to help an importing nation like India.

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FOREX-Dollar edges down from highs as investors take profits

The dollar edged away from a 6-1/2-month high against the euro on Monday, as investors took profits on the greenback's surge after bumper U.S. jobs data bolstered bets on the U.S. Federal Reserve raising interest rates in December.

The only major currency against which the dollar climbed further on Monday was the yen, which hit a 2-1/2-month low of 123.495 JPY= , down 0.3 percent on the day.

The euro fell sharply on Friday to $1.07045 EUR= , its weakest since mid-April. That took the single currency's falls to almost 6 percent in the two weeks since the European Central Bank indicated that it would expand its asset-purchase programme and could further cut its deposit rate.

But on Monday, the single currency recovered around a third of a percent to $1.0774.

FOREX CALL : BUY GBPINR ABOVE ABOVE 100.36 TGS 100.46-100.56-100.66 STOPLOSS 100.16

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Dollar hovers near 3-month high, US jobs awaited for rate clues

The dollar held firm on Friday with investors on tenterhooks over whether upcoming U.S. jobs data will be strong enough to cement rising expectations of a Federal Reserve interest rate hike next month.

The dollar index treated water at 97.927, keeping in close reach of a three-month high of 98.135 struck on Thursday.

"Fed policymakers appear to be trying to keep the possibility of a December rate hike alive since their last policy meeting," said Shinichiro Kadota, chief Japan forex strategist at Barclays.

Fed Chair Janet Yellen said on Wednesday that "liftoff" in interest rates in December was a live possibility, leading investors to think a rate hike will come next month unless economic indicators drastically weaken in coming weeks.

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CURRENCY TIPS:-Rupee trades higher against US dollar| FOREX CALL TODAY BUY GBPINR

The rupee started 3 paise higher at 65.25 against the US dollar on Friday morning, a day after it had slumped 38 paise to hit a three-week low of 65.31.

There was month-end dollar demand in the market on Thursday, which put pressure on the domestic unit even when the greenback was actually weakening. The US dollar, which has been reversing the gains notched up over the past few days after the US Fed decision to hold rate in its October review, broke above an important downtrend resistance on Thursday. 

There was month-end dollar demand in the market on Thursday, which put pressure on the domestic unit even when the greenback was actually weakening. The US dollar, which has been reversing the gains notched up over the past few days after the US Fed decision to hold rate in its October review, broke above an important downtrend resistance on Thursday.

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USDINR Oct may trade in 64.78-64.88 range, FOREX TRADING TIPS INDIA BUY GBPINR

Forex (USD/INR) The rupee appreciated marginally against the US dollar on Monday, as the dollar failed to find strength over the previous close while a continued strong move from domestic equities and FII inflows supported the rupee in remaining strong .

The Indian currency ended the day at 64.80, up 0.01% from the previous close of 64.81.

 The dollar index against six major currencies ended at 94.91, up 0.19% from the previous close of 94.73.

FOREX CALL : BUY GBPINR ABOVE ABOVE 100.55 TGS 100.65-100.75-100.85 STOPLOSS     100.35

FOREX TRADING TIPS IN INDIA

Forex (US$/INR) The rupee appreciated marginally against the US dollar on Monday, as the dollar failed to find strength over the previous close while a continued strong move from domestic equities and FII inflows supported the rupee in remaining strong The Indian currency ended the day at 64.80, up 0.01% from the previous close of 64.81 The dollar index against six major currencies ended at 94.91, up 0.19% from the previous close of 94.73

Read more at: http://www.moneycontrol.com/news/brokeragerecos-currencies/usdinroctmaytradein6478-6488rangeicicidirect_3686081.html?utm_source=ref_article

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Capitalgrow Currency Updates, Indian Rupee opens lower by 13 paise at 66.05/$

Indian Rupee today opened at 66.05 against the dollar, lower by 13 paise in early trade on Wednesday. Yesterday rupee weakened against the greenback, impacted by sharp fall in domestic equity markets and strength in US dollar against the basket of currencies. In spite of dovish policy statement from US Federal Reserve, there is a perception that Fed will initiate its first rate hike either in October or December.

On the global front, the preliminary Caixin China manufacturing PMI crashed to 47.0 in September, which is a six-and-a-half-year low. The Asian Development Bank sees a softer outlook for China and India and a delayed recovery in the world’s advanced nations. Its report predicts the region’s economies will expand 5.8% this year and 6% next year, down from the 6.3% it forecast in March for both years. 

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Capitalgrow Forex Market Updates - Dollar higher vs. euro, slips vs. yen after Fed decision

The dollar regained ground against the euro on Friday and slipped against the yen after the Federal Reserve decided to leave interest rates unchanged for the time being.

EUR/USD slipped 0.21% to trade at 1.1411, off four-week highs of 1.1441 hit on Thursday.

The greenback weakened broadly after the Federal Reserve kept interest rates unchanged on Thursday, but losses were limited as the central bank left open the possibility of a rate hike later this year.

Speaking after the rate statement, Fed Chair Janet Yellen said global economic developments played a major part in the central bank's decision.

In deciding when to raise interest rates, the Fed repeated it wanted to see "some further improvement in the labor market" and be "reasonably confident" that inflation will increase.

USD/JPY slid 0.29% to 119.66.

Earlier Friday, the minutes of the Bank of Japan's August policy meeting revealed that the central bank must be vigilant to the risk of a decline in exports from a prolonged slowdown in China and other emerging economies.

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Forex Market Updates : AUD/USD almost unchanged ahead of Fed statement

The Australian dollar was almost unchanged against its U.S. counterpart on Wednesday, hovering close to a two-week high as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy statement due the next day. 

Markets were jittery amid concerns that mixed U.S. economic reports and recent volatility in global financial markets will prompt the U.S. central bank to refrain from hiking interest rates on Thursday.

Data on Tuesday showed that U.S. retail sales rose 0.2% in August, compared to expectations for an increase of 0.3%, while core retail sales, which exclude automobiles, added 0.1% last month, confounding expectations for a 0.2% rise.

A separate report showed that U.S. industrial production fell 0.4% in August, compared to expectations for a 0.2% downtick.

The Australian dollar had come under pressure on Tuesday, after the minutes of the Reserve Bank of Australia's latest policy meeting reiterated that very low interest rates will continue to support growth.

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Capitalgrow Updates Forex Updates :The EUR/USD edges up to 2-1/2 week highs with eyes on Fed

The euro edged up to two-and-a-half week highs against the U.S. dollar on Monday, as investors remained cautious ahead of the Federal Reserve's highly-anticipated policy meeting this week.

EUR/USD hit 1.1360 during late Asian trade, the pair's highest since August 27; the pair subsequently consolidated at 1.1351, up 0.11%.

Sentiment on the dollar remained vulnerable amid concerns that mixed U.S. economic reports and recent volatility in global financial markets will prompt the U.S. central bank to refrain from hiking interest rates on Thursday.

Separately, the Labor Department reported that the producer price index was flat last month after a 0.2% increase in July.Fed Chair Janet Yellen has said that an interest rate increase is data dependent but has also indicated that she expects to begin raising rates before the end of the year.

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Forex Market Updates - Aussie holds weaker despite solid jobs data with eye on China

The Australia dollar fell on Thursday in Asia despite solid jobs data as investors also eyed consumer and producer price data out of China.

In Australia the overall unemployment rate fell to 6.2% as expected from from 6.3% and 11,500 jobs were added, compared to an expected 5,000 under a participation rate of 65% as seen.

In China consumer prices rose 0.5%, higher than the 0.4% gain seen in August and producer prices fell 5.9%, ore than the expected drop of 5.5% year-on-year.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 95.83.

Overnight, the dollar pushed higher against against the other major currencies on Wednesday, amid hopes for fresh easing measures by the Bank of China.

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Capitalgrow Updates : Aussie holds gains despite weaker consumer sentiment reading

The Aussie held early Asian gains on Wednesday despite a downbeat reading on consumer sentiment and weaker than expected housing finance data.

AUD/USD traded at 0.7054, up 0.51%, while USD/JPY changed hands at 120.30, up 0.41%.

The September Westpac-MI Consumer Sentiment gauge fell 5.6% to 93.9, receding from a gain of 7.8% to 99.5 the previous month.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.11% at 95.95.

The Labor Department reported that the U.S. economy added 173,000 jobs last month, the smallest increase in employment in five months and was below expectations for 220,000, while the unemployment rate ticked down to 5.1%, its lowest level since April 2008.

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Capital grow Updates The Aussie weakened on Thursday in Asia after disappointing retail sales, though trade data provided a bright spot

In Australia, retail sales fell 0.1%, missing an expected 0.4% gain and down for the first time since May last year as food retailing showed no growth and household goods retailing fell for the first time since March. The trade balance for July came in at A$2.460 billion, better than the A$3.1 billion seen and compared to a deficit of A$2.93 billion in June.

Earlier, the August AIGroup services index came in at 55.6, above last month's 54.1 level.

AUD/USD traded at 0.7014, down 0.33%, while USD/JPY changed hands at 120.48, up 0.12%.

In Japan, BoJ board member Takahide Kiuchi said hitting sustained 2% inflation in Japan would be hard via monetary easing alone and he reiterated that massive bond buying by the central bank was distorting prices.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.09% at 95.98

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GBP/USD slips lower after U.K. PMI disappoints

The pound slipped lower against the U.S. dollar on Wednesday, after data showed that U.K. manufacturing activity expanded at the slowest rate in 26 months in June, while Greek debt concerns continued to support demand for the safe-haven greenback.

GBP/USD hit 1.5676 during European morning trade, the pair's lowest since June 29; the pair subsequently consolidated at 1.5677, shedding 0.21%.

Cable was likely to find support at 1.5622, the low of June 17 and resistance at 1.5788, the high of June 29.

Sterling was higher against the euro, with EUR/GBP slipping 0.27% to 0.7082.

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Capitalgrow Updates , USD-INR to open higher at 63.75/USD:

Overnight we have seen a rally in the euro and the yen against the USD. However our own market will continue to take cues from the domestic macros, said NS Venkatesh, IDBI Bank.

As trade flows get skewed more towards imports than exports, this cut put pressure on the rupee, he added. According to him, along with this, the currency market will keenly watch for cues from the equity market. He expects USD-INR to open marginally higher at Rs 63.75/USD and trade between a narrow range of Rs 63.65-63.95/USD.

Meanwhile, the upward movement on yields is due to the uncertainties of the continuance of a rate cut, he feels. He expects the yields to open at par with yesterday at 7.72 percent and trade with a little bit of a hardening bias. " 

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Dollar holds gains after China HSBC PMI improves mildly

The Australian dollar held early gains on Thursday in Asia with a slight pickup in the HSBC China manufacturing survey helping sentiment with China a top export destination and minutes from the Federal Reserve showed a rate hike is unlikely next month.

AUD/USD traded at 0.7880, up 0.08%, while USD/JPY changed hands at 121.18, down 0.14%. EUR/USD traded at 1.1115, up 0.19%. In China, the May HSBC flash manufacturing PMI rose to 49.1, up slightly from a disappointing one-year low of 48.9 in April. The output index fell to 48.4 in the HSBC May survey, a 13-month-low


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Dollar edges higher but remains on defensive after U.S. data

The dollar edged higher against the euro on Monday but remained close to three-month lows after recent downbeat U.S. economic reports added to the view that the Federal Reserve will delay hiking interest rates for longer.

EUR/USD dipped 0.1% to 1.1438, not far from the three-month high of 1.1466 struck on Friday.

Data on Friday showed that U.S. industrial production fell for the fifth straight month in April and another report showed that U.S. consumer sentiment deteriorated to a seven month low this month.

The Federal Reserve said industrial output slid 0.3% after a revised 0.3% decline in March. Economists had expected an increase of 0.1%.

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EUR/USD pulls away from 3-month peak ahead of U.S. data

The euro slipped lower against the U.S. dollar on Friday, pulling away from a three-month peak as the greenback regained some strength ahead of a flurry of U.S. economic reports due to be released later in te day.

EUR/USD hit 1.1376 during late Asian trade, the session low; the pair subsequently consolidated at 1.1373, down 0.32%.

The pair was likely to find support at 1.1201, the low of May 13 and resistance at 1.1488, the high of February 6.

On Thursday, the Department of Labor said the number of Americans filing claims for initial jobless benefits in the week ending May 9 fell by 1,000 to 264,000, coming in just above the 15 year low reached two weeks ago, indicating that the recovery in the labor market is continuing

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Capital Grow Updates , Volatile equity mkt exerting pressure on rupee

Weak US retail sales data has cast doubts about US growth rebound in Q2 resulting in Dollar weakness against major currencies.

 A volatile equity market in India is exerting pressure on Rupee. However RBIs action is preventing fall beyond 64.30/USD. The Rupee is expected to trade in a range of 63.85-64.25/USD today."

He further said, "Global bond sell off, rising US 10-Year, weakening rupee and higher brent crude oil prices are keeping domestic bond markets bearish. 8.40 percent GOI 2024 is expected to trade in a range of 7.93-7.98 percent today,"

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EUR/USD: Close To A Turning Point

The EUR has been rebounding. It appears that most of the past few weeks’ upside can be traced back to delayed Fed rate -hike expectations. Elsewhere, an improving Eurozone outlook has seemingly fuelled fears about the ECB turning less aggressive on QE and has led to the unwinding of EUR -funded carry trades. It also appears that investors expect Greece and its creditors ultimately to agree on a deal , and avoid a ‘Grexit’

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FOREX-Rising yields help euro hit 10-week high vs struggling dollar

The euro hit a ten-week peak on Thursday, tracking European bond yields higher and benefiting from a sell-off in the dollar after weak U.S. jobs data added to speculation that the Federal Reserve will delay raising interest rates.

As Britons took to the ballot box to cast their votes in the most uncertain UK parliamentary elections in decades, the euro also hit a three-month high against sterling  . Though the pound inched down against the dollar, it remained in the range in which it has traded for the past two weeks GBP=D4 .

The greenback has skidded almost five percent in the last month .DXY on a run of softer-than-expected data that has driven investors to push back bets on when the Fed would start hiking rates, with some now not expecting rises until next year.

Figures on Wednesday showed U.S. private sector employers in April hired the fewest workers in over a year, raising a red flag for closely-watched non-farm payrolls numbers due on Friday.

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Capitalgrow Updates :USDINR Apr may trade in 62.70-62.80 range

The rupee ended flat against the dollar, as a strengthening dollar eroded rupee gains triggered by Moody’s raising the country’s ratings outlook.

 The Indian currency ended the day on flat note at 62.24 The dollar index against six major currencies ended at 98.97, up 0.93% from the previous close of 98.06

The Indian Rupee mildly depreciated by 0.2 percent yesterday owing to strength in the US Dollar Index. However, sharp losses were cushioned as Moody’s Investors Service raised India’s credit rating outlook to positive from stable. Also, rally in the domestic equities coupled with dollar selling by the exporter and banks acted as positive factors. The currency touched an intraday low of 62.14 and closed at 62.30 on Thursday.

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EUR/USD moves lower, as Fed offers hints on delayed rate hike

The euro fell slightly against the dollar on Wednesday after the minutes from the Federal Reserve's March meeting signified that the U.S. central bank could be placing more emphasis on the strength of its volatile currency than the timing of a potential interest-rate hike.

EUR/USD fell to a session-low 1.0777 ahead of the release of the minutes in U.S. afternoon trading, before closing at 1.0798. On Monday

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Dollar slides against rivals before Fed meeting minutes

The dollar was broadly lower against a basket of other major currencies on Wednesday, as demand for the greenback weakened ahead of the minutes of the Federal Reserve's latest policy meeting.

Market participants were eyeing the Fed's upcoming meeting minutes for indications on the central bank's next policy moves after Friday's downbeat jobs data fuelled uncertainty over the timing of a rate hike.

The Labor Department reported Friday that the U.S. economy added 126,000 new jobs in March, less than half of February’s gain and the smallest increase since December 2013.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.66% to 97.60.

EUR/USD climbed 0.50% to 1.0869, even as data showed that retail sales in the euro zone fell 0.2% in February, in line with market expectations.

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The Australian dollar surged on Tuesday after the central bank held rates at a record low 2.25% and even as it signalled more cuts were possible.

At today's meeting the Board judged that it was appropriate to hold interest rates steady for the time being. Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with the target," Governor Glenn Stevens said in a statement.

"The Board will continue to assess the case for such action at forthcoming meetings."

AUD/USD traded at 0.7674, up 1.07%, while USD/JPY changed hands at 119.59, up 0.04%. EUR/USD traded at 1.0934, up 0.11%.

The US Dollar Index, which measures the dollar against a basket of six major currencies, was quoted at 97.25, up 0.04%.

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Capitalgrow Forex Updates , dollar gains ground against euro

The dollar gained ground against the euro  on Tuesday as investors looked ahead to the latest U.S. employment report later in the week and uncertainty over Greece continued to weigh on the single currency.

EUR/USD was down 0.48% to one week lows 1.0708.

The euro remained under pressure amid concerns over whether Greece can reach a compromise with its creditors in time to unlock more bailout funds before it runs out of cash in three weeks.

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Capitalgrow Forex Market ,dollar pushes higher against euro, yen

The dollar pushed higher against the euro and the yen on Monday after Federal Reserve Chair Janet Yellen reiterated Friday that the bank is likely to start raising interest rates later this year.

EUR/USD was down 0.22% to 1.0865, off Friday’s highs of 1.0947.

In a speech on Friday, Ms. Yellen said a rate hike may be warranted later this year, but added that weakening inflation pressures could force the Fed to delay.

The Fed chief said policy tightening could "speed up, slow down, pause, or even reverse course" depending on how the economy is performing.

USD/JPY edged up 0.09% to 119.24, off the one-month lows of 118.32 struck last Thursday.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.23% to 97.84. The index slid 0.66% last week, the second consecutive weekly decline.

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EUR/USD reaches two-week high

The euro continued its recent hot streak against the U.S. dollar, moving above 1.10 as weak data on U.S. durable goods strengthened the case for delaying a potential interest rate hike. EUR/USD rose steadily in U.S. morning trading to reach a two-week high at 1.103 before settling at 1.0974. The pair gained 0.44% or .0048 as it continues its steady rebound from early last week when parity appeared inevitable.

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FOREX services are uniquely designed for the FOREX traders trading in MCXSX market. With its huge volume and liquidity, it acts as a brilliant platform for day traders for making profits. FOREX markets require the study of complete Global Market and any important international outcome anywhere in the world can impact any of the currencies movement. Our Team of Analysts who specialize in FOREX markets keep a complete Global track of all the events and blend it with technical analysis to outperform the markets. 

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