Indian rupee is expected to open widely higher against the US dollar in a range between 0.5 from 49.14/15 last close yesterday, as growth sensitive currencies(AUD, CAD, CHF) and regional currencies have gained much more than the majors. I expect this time our bias is strongly bullish on rupee based on our technical formation on daily charts.
Saturday, November 5, 2011
Friday, November 4, 2011
Indian Forex Tips Updates Today- Friday 4th November 2011
In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.39. The USD/INR November open interest was up by 4.6%. The December contract witnessed an increase in open interest by 2.9%.
The US dollar is expected to attract some selling on rallies against the INR. Utilise the highs in the USD/INR November contract sell below 49.53 with target 49.35/49.27 and strict stop loss of 49.62.
The US dollar is expected to attract some selling on rallies against the INR. Utilise the highs in the USD/INR November contract sell below 49.53 with target 49.35/49.27 and strict stop loss of 49.62.
Thursday, November 3, 2011
Indian Forex Tips News Updates Today- Thursday 3rd November 2011
In the currency futures market, most traded near-month dollar-rupee contract on the NSE closed at 49.62. The USD/INR November open interest was up by 6.6%. The December contract witnessed an increase in open interest by 3.9%
The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR November contract to buy above above 49.40 for target of 49.57/49.65 and stop loss placed at 49.32.
The US dollar is expected to attract some buying on declines against the INR. Utilise the lows in the USD/INR November contract to buy above above 49.40 for target of 49.57/49.65 and stop loss placed at 49.32.
Wednesday, November 2, 2011
Indian Forex Tips News Today
The US dollar is expected to attract some buying on declines against the INR. Utilize the lows in the USD/INR November contract to buy above above 49.18 for Target- 49.36/49.45 and Stop Loss- 49.09.
Indian Rupee is likely to follow the suit from Asian Currencies. Amongst the regional peers Korean won and Indonesian Rupiah are down by 0.5%. Therefore, even Rupee is expected open down by 10-12 paise from 49.27/28 a dollar close yesterday. In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.52. The USD/INR November open interest was down by 9.0%. The December contract witnessed an increase in open interest by 1.8%.
Indian Rupee is likely to follow the suit from Asian Currencies. Amongst the regional peers Korean won and Indonesian Rupiah are down by 0.5%. Therefore, even Rupee is expected open down by 10-12 paise from 49.27/28 a dollar close yesterday. In the currency futures market, the most traded near-month dollar-rupee contract on the NSE closed at 49.52. The USD/INR November open interest was down by 9.0%. The December contract witnessed an increase in open interest by 1.8%.
Tuesday, November 1, 2011
Forex Tips News Today
Indian rupee is expected open lower against the US dollar tracking broader strength in US dollar, but weakness likely to sustain is questionable looking at recent strength in INR. Exporters selling are heavy and importers are already done with their requirements. However, rupee is likely trade in full swing versus Euro while partially against Yen. USDRs (Nov) is bullish above 49.15.
