{"id":6246,"date":"2024-04-05T09:47:33","date_gmt":"2024-04-05T04:17:33","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=6246"},"modified":"2024-08-31T13:40:56","modified_gmt":"2024-08-31T08:10:56","slug":"fx-morning-update-april-5-2024","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-morning-update-april-5-2024\/","title":{"rendered":"FX – MORNING UPDATE :"},"content":{"rendered":"

FX Morning Update USD INR April 5, 2024<\/h1>\r\n

USDINR opened at 83.42 Y\u2019day and the pair traded in the 83.39-83.46 range. Spot USDINR closed at 83.40,\u00a0loss of 7 \u00a0ps for USD as against prior close of 83.47.<\/b><\/p>\r\n

RBI reference rate was fixed at 83.45 on 04\/04<\/b>.\u00a0<\/b>Apr USD\/INR closed at 83.51, loss of 2 ps for USD as compared to prior day\u2019s close of 83.53. Euro\/INR closed at 90.55, GBP\/INR at 105.55 and Yen\/INR at 54.95. 1 year USDINR fwd premia was trading at around 1.62% p.a<\/a>. \u00a0<\/a><\/a>FX reserves stood at USD 642.36 bn, as on March 22 nd.<\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

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

\r\n

RBI REF RATE (04\/04)<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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

\r\n

83.45<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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

\r\n

90.49<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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

\r\n

105.60<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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

\r\n

55.02<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

<\/a>In March, FPI\u2019S bought Rs 32927 Cr of Equities and bought Rs 13818 Cr of debt . In\u00a0<\/b>FY 23-24, FII\u2019S have net bought Rs 206279 Cr of Equities and have net bought Rs 123120 Cr of debt.<\/b><\/p>\r\n

Benchmark Nifty climbed 80 points (0.36%) y\u2019day. US S&P climbed 5 points (0.11%) y\u2019day. Nikkei climbed 0.86% and Hang Seng declined 1.22% y\u2019day.<\/b><\/p>\r\n

Euro is now at 1.0842, Pound at 1.2645, Yen at 150.93.<\/b><\/b><\/p>\r\n

Commodities:<\/u><\/b>\u00a0<\/u><\/b>Gold is now at USD 2279 and WT1Crude at USD 87\/Brent at USD 91.<\/b><\/b><\/p>\r\n

Interest<\/u><\/b>\u00a0rates<\/b>: USD 10 Yr yield is at 4.31% and 3 m libor closed at 5.59%. Indian 10 yr benchmark yield closed at 7.09%.<\/b><\/p>\r\n

<\/a>Economic<\/b><\/a><\/a><\/a><\/a><\/a><\/a><\/a>\u00a0news<\/b><\/a>:\u00a0<\/a><\/a>RBI\u2019S MPC meeting is underway and policy decision is expected today.<\/b><\/p>\r\n

ECB\u2019s March meeting accounts unveiled a unified stance among Governing Council members against discussing rate cuts at that time, citing it as \u201cpremature.\u201d However, the narrative within the ECB is evolving, with increasing acknowledgment that \u201cthe case for considering rate cuts was strengthening,\u201d pointing towards a strategic shift contingent on forthcoming economic data.<\/b><\/p>\r\n

Data highlights:<\/b>\u00a0– US Weekly jobless claims climbed to 221k.<\/b><\/p>\r\n

-EU PPI and PMI(services) climbed to 51.5.<\/b><\/p>\r\n

-UK PMI(services) declined mildly to 53,1,<\/b><\/p>\r\n

Friday\u2019s calendar\u00a0: – US nonfarm payrolls<\/b><\/p>\r\n

-German factory orders<\/b><\/p>\r\n

-UK PMI(construction)<\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

USD\/INR<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

\u00a0<\/b><\/p>\r\n<\/td>\r\n

\u00a0<\/td>\r\n\r\n

\u00a0<\/span><\/b>83.46<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.39<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

EUR\/USD<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0842<\/b><\/p>\r\n<\/td>\r\n

\u00a0<\/td>\r\n\r\n

1.0877<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0831<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

GBP\/USD<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2645<\/b><\/p>\r\n<\/td>\r\n

\u00a0<\/td>\r\n\r\n

1.2684<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2634<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

USD\/JPY<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\u00a0<\/td>\r\n\r\n

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

\r\n

150.81<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

\u00a0<\/b>Daily Support\/Resistance table<\/b><\/p>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n
\r\n

Currency Pairs<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

R1<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

R2<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

R3<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

S1<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

S2<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

S3<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

EURO\/USD<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0812<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0861<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0886<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0935<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0786<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0738<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0712<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

GBP\/USD<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2623<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2685<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2719<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2781<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2589<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2527<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2493<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

USD\/JPY<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

151.94<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

152.21<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

152.46<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

151.42<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

151.17<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

150.89<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

USD\/INR<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.41<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

83.48<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

\u00a0<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.36<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.34<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

\u00a0<\/span><\/b><\/p>\r\n<\/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
\r\n

Currency Pair<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

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

\r\n

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

\r\n

Remarks<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

EURO\/USD<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.07<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0875<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

DN<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

UP>1.0875<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

GBP\/USD<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2575<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2670\/1.28<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

DN<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

SIDE>1.2670<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

USD\/JPY<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

149\/146.50\/144.35<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

152.50<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

UP<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

SIDE<149<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

USD\/INR<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.27\/83.20<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.47\/83.70\/84.10<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

UP<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

SIDE<83.<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

USD\/CHF<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

0.8890\/0.8725<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

0.91<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

UP<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

DN<0.8725<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

Technicals<\/b>: Spot closed above major moving averages.20 day moving average is at 83.08. 50 day moving average is at 83.04. 200 day moving average is at 82.91. Daily MACD is in buy zone. Important support is at 83.27\/83.20 and important resistance is at 83.70. Spot closed below the average level of the day.<\/b><\/b><\/p>\r\n

Intraday supports and resistances for April contract are:<\/b><\/b><\/p>\r\n

PP: 83.51, S1:83.42, S2:83.32, R1:83.62, R2:83.70.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/b><\/p>\r\n

Hedging strategy: Hedging decisions be taken according to comfort and accounting rates.<\/b><\/b><\/p>\r\n

However on directional basis, suggest the following:<\/b><\/p>\r\n

USD imports be hedged on decline to 83.27.<\/b><\/b><\/p>\r\n

CROSS CURRENCY TECHNICALS:<\/b><\/b><\/p>\r\n

EURO\/USD<\/b>:\u00a0The pair is below major moving averages. Major resistance is at 1.09\/1.10.\u00a0Next major support is at 1.07.\u00a0Daily MACD is in sell zone, implying an important support at 1.07. Weekly MACD is in sell zone, implying important top at 1.1140.<\/b><\/b><\/p>\r\n

GBP\/USD<\/b>: The pair is between major moving averages. Daily MACD\u00a0is in sell zone, implying important top at 1.29 and weekly MACD is\u00a0in sell zone, implying important top at 1.2895. Important support is at 1.2575. Important resistance is at 1.28\/1.29.<\/b><\/b><\/p>\r\n

USD\/YEN<\/b>: The pair is\u00a0above major moving averages. Daily MACD is in buy zone, implying important bottom at 146.50. Important resistance is at 152.50 and support is at 149\/146.50.<\/b><\/b><\/p>\r\n

Click to open an Account<\/strong>\u00a0:\u00a0https:\/\/ekyc.gwcindia.in\/client\/<\/a><\/p>\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 April 5, 2024 USDINR opened at 83.42 Y\u2019day and the pair traded in the 83.39-83.46 range. Spot USDINR closed at 83.40,\u00a0loss of 7 \u00a0ps for USD as against prior close of 83.47. RBI reference rate was fixed at 83.45 on 04\/04.\u00a0Apr USD\/INR closed at 83.51, loss of 2 ps for […]<\/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-6246","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\/6246","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=6246"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/6246\/revisions"}],"predecessor-version":[{"id":8667,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/6246\/revisions\/8667"}],"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=6246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=6246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=6246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}