{"id":5853,"date":"2024-02-22T09:49:16","date_gmt":"2024-02-22T04:19:16","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=5853"},"modified":"2024-08-31T12:57:59","modified_gmt":"2024-08-31T07:27:59","slug":"fx-morning-update-february-22-2024-2","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-morning-update-february-22-2024-2\/","title":{"rendered":"FX – MORNING UPDATE :"},"content":{"rendered":"

FX Morning Update USD INR February 22, 2024<\/span><\/h1>\r\n

USDINR opened at 82.90 Y\u2019day and the pair traded in the 82.86-82.96 range. Spot USDINR closed at 82.96,\u00a0unchanged for USD as against prior close of 82.96.<\/b> RBI reference rate was fixed at 82.89 on 21\/02<\/b>.\u00a0<\/b>Feb USD\/INR closed at 82.98, unchanged for USD as compared to prior day\u2019s close of 82.98. Feb Euro\/INR closed at 89.64, GBP\/INR at 104.66 and Yen\/INR at 55.38. 1 year USDINR fwd premia was trading at around 1.74% p.a<\/a>.\u00a0\u00a0<\/a><\/a>FX reserves stood at USD 617 bn, as on Feb 9 th.<\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
PAIRS<\/b><\/b><\/td>\r\nRBI REF RATE (21\/02)<\/b><\/b><\/td>\r\n<\/tr>\r\n
USDINR<\/b><\/b><\/td>\r\n82.89<\/span><\/b><\/td>\r\n<\/tr>\r\n
EURINR<\/b><\/b><\/td>\r\n89.61<\/span><\/b><\/td>\r\n<\/tr>\r\n
GBPINR<\/b><\/b><\/td>\r\n104.67<\/span><\/b><\/td>\r\n<\/tr>\r\n
JPYINR<\/b><\/b><\/td>\r\n55.25<\/span><\/b><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

<\/a>In Feb, FPI\u2019S have sold Rs 5515 Cr of Equities and bought Rs 13966 Cr of debt . In\u00a0<\/b>last calendar year, FII\u2019S have net bought Rs 172853 Cr of Equities and have net bought Rs 70489 Cr of debt.<\/b> Benchmark Nifty declined 141 points (0.64%) Y\u2019day. US S&P climbed 6 points (0.13%) y\u2019day. Nikkei declined 0.17% y\u2019day and Hang Seng climbed 1.57% y\u2019day.<\/b> Euro is now at 1.0828, Pound at 1.2641, Yen at 150.38.<\/b><\/b> Commodities:<\/u><\/b>\u00a0<\/u><\/b>Gold is now at USD 2025 and WT1Crude at USD 78\/Brent at USD 83.<\/b><\/b> Interest<\/u><\/b>\u00a0rates<\/b>: USD 10 Yr yield is at 4.30% and 3 m libor closed at 5.52%. Indian 10 yr benchmark yield closed at 7.05%.<\/b> <\/a>Economic<\/b><\/a><\/a><\/a><\/a><\/a><\/a><\/a>\u00a0news<\/b><\/a>:<\/b>\u00a0<\/a>Rupee gained to 82.86, but weakened on intra day basis to close at 82.96. Early Rupee gains was driven by moderate weakness in USD index, ahead of FOMC minutes.<\/b> FOMC minutes maintained a hawkish stance, as members felt that achieving inflation target will take time and the economy is robust to warrant rate cuts. However, members also felt that rate peak has been achieved.<\/b> USD declined marginally, post Fed minutes.<\/b> Data highlights:<\/b>\u00a0– EU Consumer confidence<\/b> Thursday\u2019s calendar\u00a0: – US Weekly jobless claims, existing home sales<\/b> -EU PMI(mfrg-flash), PMI(services-flash) and CPI<\/b> -UK PMI(mfrg-flash) and PMI(services-flash)<\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n
USD\/INR<\/b><\/b><\/td>\r\n\u00a0<\/b><\/td>\r\n\u00a0<\/td>\r\n\u00a0<\/span><\/b>82.96<\/b><\/b><\/td>\r\n82.86<\/b><\/b><\/td>\r\n<\/tr>\r\n
EUR\/USD<\/b><\/b><\/td>\r\n\r\n

1.0828<\/b><\/p>\r\n<\/td>\r\n

\u00a0<\/td>\r\n1.0825<\/b><\/b><\/td>\r\n1.0790<\/b><\/b><\/td>\r\n<\/tr>\r\n
GBP\/USD<\/b><\/b><\/td>\r\n\r\n

1.2641<\/b><\/p>\r\n<\/td>\r\n

\u00a0<\/td>\r\n1.2642<\/span><\/b><\/b><\/td>\r\n1.2602<\/b><\/b><\/td>\r\n<\/tr>\r\n
USD\/JPY<\/b><\/b><\/td>\r\n\r\n

150.38<\/b><\/p>\r\n<\/td>\r\n

\u00a0<\/td>\r\n150.40<\/b><\/b><\/td>\r\n149.85<\/b><\/b><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

Daily Support\/Resistance table<\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
Currency Pairs<\/b><\/b><\/td>\r\nPivot<\/b><\/b><\/td>\r\nR1<\/b><\/b><\/td>\r\nR2<\/b><\/b><\/td>\r\nR3<\/b><\/b><\/td>\r\nS1<\/b><\/b><\/td>\r\nS2<\/b><\/b><\/td>\r\nS3<\/b><\/b><\/td>\r\n<\/tr>\r\n
EURO\/USD<\/b><\/b><\/td>\r\n1.0812<\/span><\/b><\/td>\r\n1.0834<\/span><\/b><\/td>\r\n1.0847<\/span><\/b><\/td>\r\n1.0869<\/span><\/b><\/b><\/td>\r\n1.0799<\/span><\/b><\/td>\r\n1.0777<\/span><\/b><\/td>\r\n1.0765<\/span><\/b><\/td>\r\n<\/tr>\r\n
GBP\/USD<\/b><\/b><\/td>\r\n1.2628<\/span><\/b><\/td>\r\n1.2654<\/span><\/b><\/td>\r\n1.2667<\/b><\/b><\/td>\r\n1.2693<\/span><\/b><\/td>\r\n1.2614<\/span><\/b><\/td>\r\n1.2589<\/span><\/b><\/td>\r\n1.2575<\/span><\/b><\/td>\r\n<\/tr>\r\n
USD\/JPY<\/b><\/b><\/td>\r\n150.20<\/b><\/b><\/td>\r\n150.55<\/span><\/b><\/td>\r\n150.74<\/span><\/b><\/td>\r\n151.09<\/span><\/b><\/td>\r\n150<\/span><\/b><\/b><\/td>\r\n149.66<\/span><\/b><\/td>\r\n149.46<\/span><\/b><\/td>\r\n<\/tr>\r\n
USD\/INR<\/span><\/b><\/td>\r\n82.92<\/span><\/b><\/td>\r\n82.99<\/b><\/b><\/td>\r\n83.02<\/span><\/b><\/td>\r\n\u00a0<\/b><\/b><\/td>\r\n82.88<\/span><\/b><\/td>\r\n82.82<\/span><\/b><\/td>\r\n\u00a0<\/span><\/b><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

MAJOR<\/b>\u00a0<\/b>SUPPORTS\/RESISTANCES AND TREND TABLE<\/b><\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
Currency Pair<\/b><\/b><\/td>\r\nSupports<\/b><\/b><\/td>\r\nResistances<\/b><\/b><\/td>\r\nTrend<\/b><\/b><\/td>\r\nRemarks<\/b><\/b><\/td>\r\n<\/tr>\r\n
EURO\/USD<\/b><\/b><\/td>\r\n1.07<\/span><\/b><\/td>\r\n1.0890<\/span><\/b><\/td>\r\nSIDE<\/span><\/b><\/td>\r\nUP>1.0890<\/span><\/b><\/td>\r\n<\/tr>\r\n
GBP\/USD<\/b><\/b><\/td>\r\n1.2480<\/b><\/b><\/td>\r\n1.2695\/1.2775<\/span><\/b><\/b><\/td>\r\nSIDE<\/span><\/b><\/td>\r\nUP>1.2695<\/span><\/b><\/td>\r\n<\/tr>\r\n
USD\/JPY<\/b><\/b><\/td>\r\n148.80\/146<\/b><\/b><\/td>\r\n152<\/span><\/b><\/td>\r\nUP<\/span><\/b><\/td>\r\nDN<144.35<\/span><\/b><\/td>\r\n<\/tr>\r\n
USD\/INR<\/b><\/b><\/td>\r\n82.92\/82.80<\/span><\/b><\/td>\r\n83.18\/83.24<\/span><\/b><\/td>\r\nSIDE<\/span><\/b><\/td>\r\nUP>83.35<\/span><\/b><\/td>\r\n<\/tr>\r\n
USD\/CHF<\/b><\/b><\/td>\r\n0.8730<\/b><\/b><\/td>\r\n0.8850<\/span><\/b><\/td>\r\nUP<\/span><\/b><\/td>\r\nDN<0.8620<\/span><\/b><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

Technicals<\/b>: Spot closed below 20 and 50 day average but above 200 day moving averages.20 day moving average is at 83.03. 50 day moving average is at 83.12.200 day moving average is at 82.82. Daily MACD is in buy zone. Important support is at 82.80 and important resistance is at 83.15. Spot closed\u00a0\u00a0above the average level of the day.<\/b><\/b> Intraday supports and resistances for Feb contract are:<\/b><\/b> PP: 82.95, S1:82.91, S2:82.85, R1:83.01, R2:83.05.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/b> Hedging strategy: Hedging decisions be taken according to comfort and accounting rates.<\/b><\/b> However on directional basis, suggest the following:<\/b> USD exports be hedged at 83.35\/83.40. Imports be hedged at 82.92\/82.80 for 3 months.<\/b><\/b> CROSS CURRENCY TECHNICALS:<\/b> EURO\/USD<\/b>:\u00a0The pair is below major moving averages. Major resistance is at 1.0830\/1.0890.\u00a0Next major support is at 1.07.\u00a0Daily MACD is in buy zone, implying an important support at 1.07. Weekly MACD is in buy zone, implying important bottom at 1.0450.<\/b><\/b> GBP\/USD<\/b>: The pair is between major moving averages. Daily MACD\u00a0is in sell zone, implying important top at 1.2810 and weekly MACD is\u00a0in buy zone, implying important bottom at 1.25. Important support is at 1.2480. Important resistance is at 1.2695.<\/b><\/b> USD\/YEN<\/b>: The pair is\u00a0above all major moving averages. Daily MACD is in buy zone, implying important bottom at 145.90. Important resistance is at 152 and support is at 148.80\/146.<\/b><\/b><\/p>\r\n

Click to open an Account<\/strong>\u00a0:\u00a0https:\/\/ekyc.gwcindia.in\/client\/<\/a><\/div>\r\n
For all your investment needs feel free to reach us.<\/strong>\r\n
\r\n
\r\n\r\nGive us Missed Call us on 90037 90027 . For Support : 044-40329999<\/strong><\/div>\r\n<\/div>\r\n<\/div>","protected":false},"excerpt":{"rendered":"

FX Morning Update USD INR February 22, 2024 USDINR opened at 82.90 Y\u2019day and the pair traded in the 82.86-82.96 range. Spot USDINR closed at 82.96,\u00a0unchanged for USD as against prior close of 82.96. RBI reference rate was fixed at 82.89 on 21\/02.\u00a0Feb USD\/INR closed at 82.98, unchanged for USD as compared to prior day\u2019s […]<\/p>\n","protected":false},"author":6,"featured_media":5677,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-5853","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-currency-update","post_format-post-format-image"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/5853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/comments?post=5853"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/5853\/revisions"}],"predecessor-version":[{"id":8578,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/5853\/revisions\/8578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media\/5677"}],"wp:attachment":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media?parent=5853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=5853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=5853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}