{"id":6291,"date":"2024-04-15T09:58:53","date_gmt":"2024-04-15T04:28:53","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=6291"},"modified":"2024-08-31T13:10:44","modified_gmt":"2024-08-31T07:40:44","slug":"fx-morning-update-april-15-2024","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-morning-update-april-15-2024\/","title":{"rendered":"FX – MORNING UPDATE :"},"content":{"rendered":"

FX Morning Update USD INR April 15, 2024<\/h1>\r\n

USDINR opened at 83.36 on Friday and the pair traded in the 83.36-83.49 range. Spot USDINR closed at 83.47,\u00a0gain of 26\u00a0\u00a0ps for USD as against prior close of 83.21.<\/b><\/p>\r\n

RBI reference rate was fixed at 83.39 on 12\/04<\/b>.\u00a0<\/b>Apr USD\/INR closed at 83.49, gain of 27 ps for USD as compared to prior day\u2019s close of 83.22. Apr Euro\/INR closed at 89.09, GBP\/INR at 104.22 and Yen\/INR at 54.55. 1 year USDINR fwd premia was trading at around 1.60% p.a<\/a>.\u00a0\u00a0<\/a><\/a>FX reserves stood at USD 648 bn, as on April 5 th. Reserves increased by USD 2.5 bn w\/w.<\/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 (12\/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

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

<\/a>In April, FPI\u2019S have bought Rs 10992 Cr of Equities and sold Rs 3201 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 declined 234 points (1.03%) on Friday. US S&P declined 75 points (1.56%) on Friday. Nikkei declined 0.30% and Hang Seng declined 0.26% on Friday.<\/b><\/p>\r\n

Euro is now at 1.0640, Pound at 1.2450, Yen at 153.29.<\/b><\/b><\/p>\r\n

Commodities:<\/u><\/b>\u00a0<\/u><\/b>Gold is now at USD 2344 and WT1Crude at USD 85.45\/Brent at USD 90.15.<\/b><\/b><\/p>\r\n

Interest<\/u><\/b>\u00a0rates<\/b>: USD 10 Yr yield is at 4.52% and 3 m libor closed at 5.59%. Indian 10 yr benchmark yield closed at 7.18%.<\/b><\/p>\r\n

<\/a>Economic<\/b><\/a><\/a><\/a><\/a><\/a><\/a><\/a>\u00a0news<\/b><\/a>:\u00a0<\/a><\/a>March CPI eased to 4.85% as against 5.09% in Feb. Food inflation eased marginally to 8.52% from 8.66% in Feb. Core CPI declined to 3.4% in Feb. IIP surged to 4 month high of 5.7% as against 4.2% in Jan.<\/b><\/p>\r\n

US markets and Global markets are jolted by fading expectations of June rate cut. USD climbed on risk aversion as geo political tensions are high due to expected Iran-Israel conflict. Rising energy prices as a consequence of Gulf tensions could make disinflationary progress even harder.<\/b>\u00a0US<\/b>\u00a010-year yield surged sharply too to close at 4.499 after reaching as high as 4.591.<\/b><\/p>\r\n

US retail sales data is the important data event for the day.<\/b><\/p>\r\n

Data highlights:<\/b>\u00a0— UK industrial and manufacturing production climbed 1.1% and 1.2% respectively.<\/b><\/p>\r\n

-UK GDP climbed 0.1% m\/m.<\/b><\/p>\r\n

Monday\u2019s calendar\u00a0: US retail sales<\/b><\/p>\r\n

-EU industrial production.<\/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>83.49<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.36<\/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

1.0640<\/b><\/p>\r\n<\/td>\r\n

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

1.0731<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0622<\/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

1.2450<\/b><\/p>\r\n<\/td>\r\n

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

1.2560<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2425<\/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

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

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

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

\r\n

152.59<\/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

1.0664<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0706<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0783<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

1.0597<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0545<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

\u00a0<\/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

1.2478<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2531<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2613<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

1.2396<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2343<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

\u00a0<\/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

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

\u00a0<\/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

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

83.31<\/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

1.0520\/1.0450<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0725\/1.0885<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

UP>1.0885<\/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

1.2430\/1.2330<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2535\/1.2720<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

UP>1.2720<\/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

152\/150.80<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

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

\r\n

SIDE<150.80<\/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\/83.165<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

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

\r\n

SIDE<83.15<\/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

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

\r\n

0.9230<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

SIDE<0.90<\/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 83.16. 50 day moving average is at 83.06. 200 day moving average is at 82.94. Daily MACD is in buy zone. Important support is at 83.17 and important resistance is at 83.70. Spot closed above 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: 83.23, S1:83.18, S2:83.14, R1:83.27, R2:83.32.\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\/83.16.<\/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 1.0725\/1.0885.\u00a0Next major support is at 1.0520\/1.0450.\u00a0Daily MACD is in sell zone, implying an important top at 1.0885. Weekly MACD is in sell zone, implying important top at 1.1140.<\/b><\/b><\/p>\r\n

GBP\/USD<\/b>: The pair is below major moving averages. Daily MACD\u00a0is in sell zone, implying important top at 1.2710 and weekly MACD is\u00a0in sell zone, implying important top at 1.2895. Important support is at 1.2430\/1.2340. Important resistance is at 1.2535\/1.2720.<\/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 150.80. Important resistance is at 154.50 and support is at 152\/150.80.<\/b><\/b><\/p>\r\n

Click to open an Account<\/strong>\u00a0:\u00a0https:\/\/ekyc.gwcindia.in\/client\/<\/a><\/p>\r\n

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FX Morning Update USD INR April 15, 2024 USDINR opened at 83.36 on Friday and the pair traded in the 83.36-83.49 range. Spot USDINR closed at 83.47,\u00a0gain of 26\u00a0\u00a0ps for USD as against prior close of 83.21. RBI reference rate was fixed at 83.39 on 12\/04.\u00a0Apr USD\/INR closed at 83.49, gain of 27 ps for […]<\/p>\n","protected":false},"author":6,"featured_media":6292,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-6291","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\/6291","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=6291"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/6291\/revisions"}],"predecessor-version":[{"id":8614,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/6291\/revisions\/8614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media\/6292"}],"wp:attachment":[{"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/media?parent=6291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=6291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=6291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}