{"id":6692,"date":"2024-06-27T09:22:31","date_gmt":"2024-06-27T03:52:31","guid":{"rendered":"https:\/\/gwcindia.in\/blog\/\/?p=6692"},"modified":"2024-08-31T09:42:23","modified_gmt":"2024-08-31T04:12:23","slug":"fx-morning-update-june-27-2024","status":"publish","type":"post","link":"https:\/\/www.gwcindia.in\/blog\/fx-morning-update-june-27-2024\/","title":{"rendered":"FX – MORNING UPDATE :"},"content":{"rendered":"

FX Morning Update USD INR June 27, 2024<\/h1>\r\n

USDINR opened at 83.45 y\u2019day and the pair traded in the 83.42-83.61 range. Spot USDINR closed at 83.58,\u00a0gain of 16 ps for USD as against prior close of 83.42.<\/b><\/p>\r\n

RBI reference rate was fixed at 83.54 on 26\/06<\/b>.\u00a0<\/b>June USD\/INR closed at 83.66, gain of 23 ps for USD as compared to prior day\u2019s close of 83.43. June Euro\/INR closed at 89.35, GBP\/INR at 105.86 and Yen\/INR at 52.42. 1 year USDINR fwd premia was trading at around 1.60% p.a<\/a>.\u00a0\u00a0<\/a><\/a>FX reserves stood at USD 653 bn, as on June 14 th. Reserves declined by USD 3 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 (26\/06)<\/b><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

<\/a><\/a>In May till date, FPI\u2019S have bought Rs 9992 Cr of Equities and bought Rs 11236 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 147 points (0.62%) y\u2019day. US S&P climbed 9 points (0.16%). Nikkei climbed 1.26% and Hang Seng climbed 0.08% y\u2019day.<\/b><\/p>\r\n

Euro is now at 1.0692, Pound at 1.2630, Yen at 160.48.<\/b><\/b><\/p>\r\n

Commodities:<\/u><\/b>\u00a0<\/u><\/b>Gold is now at USD 2300 and WT1Crude at USD 80.50\/Brent at USD 84.10.<\/b><\/b><\/p>\r\n

Interest<\/u><\/b>\u00a0rates<\/b>: USD 10 Yr yield is at 4.34% and 3 m libor closed at 5.59%. Indian 10 yr benchmark yield closed at 6.99%.<\/b><\/p>\r\n

<\/a>Economic<\/b><\/a><\/a><\/a><\/a><\/a><\/a><\/a>\u00a0news<\/b><\/a><\/a><\/a>: ECB Governing Council member noted that the current macroeconomic conditions support \u201cnormalization of the monetary stance.\u201d He added that ECB initiated this process recently and, under the \u201cbaseline scenario,\u201d intends to continue it \u201cgradually and smoothly.\u201d<\/b>\u00a0ECB Governing Council member Olli Rehn indicated that market data suggests the likelihood of two additional rate cuts, bringing the rate to 3.25% by the end of the year. He also noted that the terminal rate for this easing cycle is expected to fall between 2.25% and 2.50%.\u00a0<\/b><\/p>\r\n

Focus is on US Personal spending and Core PCE data.<\/b><\/p>\r\n

Data highlights:<\/b>\u00a0– US New home sales dipped to 619k.<\/b><\/p>\r\n

Thursday\u2019s calendar\u00a0: – US Weekly jobless claims, durables order and pending home sales<\/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>83.61<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

83.42<\/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

1.0692<\/b><\/p>\r\n<\/td>\r\n

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

1.0718<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0666<\/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

1.2630<\/b><\/p>\r\n<\/td>\r\n

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

1.2695<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2614<\/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

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

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

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

\r\n

159.60<\/b><\/b><\/p>\r\n<\/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
\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

1.0688<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0710<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0741<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0763<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0658<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0635<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0605<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

1.2643<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2672<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2724<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2753<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2591<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2562<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2510<\/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

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

\r\n

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

\r\n

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

\r\n

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

\r\n

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

\r\n

83.35<\/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

1.0610<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.0765\/1.09<\/span><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

UP>1.09<\/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

1.2535\/1.2510<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

1.2825<\/span><\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

DN<1.2535<\/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

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

\r\n

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

\r\n

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

\r\n

SIDE<154.50<\/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

83.42\/83.34<\/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<83.30<\/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

0.8730<\/b><\/b><\/p>\r\n<\/td>\r\n

\r\n

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

\r\n

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

\r\n

UP>0.90<\/span><\/b><\/p>\r\n<\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n

Technicals<\/b>: Spot closed above 50 and 200 day moving averages.20 day moving average is at 83.43. 50 day moving average is at 83.42. 200 day moving average is at 83.19. Daily MACD is in buy zone. Important support is at 83.42\/83.34 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 June contract are:<\/b><\/p>\r\n

PP: 83.62, S1:83.54, S2:83.43, R1:83.74, R2:83.81.\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 exports be hedged at 83.60+.<\/b><\/p>\r\n

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

EURO\/USD<\/b>:\u00a0The pair is below major moving averages. Major resistance is at 1.09.\u00a0Next major support is at 1.0610.\u00a0Daily MACD is in sell zone, implying an important top at 1.09. 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 1.2825 and weekly MACD is\u00a0in sell zone, implying important top at 1.2895. Important support is at 1.2535. Important resistance is at 1.2825.<\/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 154.55. Important resistance is at 160 and support is at 154.55.<\/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 June 27, 2024 USDINR opened at 83.45 y\u2019day and the pair traded in the 83.42-83.61 range. Spot USDINR closed at 83.58,\u00a0gain of 16 ps for USD as against prior close of 83.42. RBI reference rate was fixed at 83.54 on 26\/06.\u00a0June USD\/INR closed at 83.66, gain of 23 ps for […]<\/p>\n","protected":false},"author":6,"featured_media":6292,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[36],"tags":[],"class_list":["post-6692","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\/6692","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=6692"}],"version-history":[{"count":3,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/6692\/revisions"}],"predecessor-version":[{"id":8020,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/posts\/6692\/revisions\/8020"}],"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=6692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/categories?post=6692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gwcindia.in\/blog\/wp-json\/wp\/v2\/tags?post=6692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}