MRC INDIA

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24/02/2014

Dollar Index (80.27) broke above 80.25 to reach our target of 80.40-45. To rally further towards 80.75-85, it must move and sustain above 80.45. Support comes at 80.25-20 now.
[9:14:13 AM] MRC India: Dollar-Rupee (62.13) may open lower between 62.00-62.05 today. Contrary to our expectations, the correction has not ended at 62.15-10 and sustaining below 62.05, it may extend to 61.80-70 once again. Strength will be back only on a break above 62.20-25. Dollar Rupee may remain in a range of 61.40-62.70 for the next 2-3 weeks.
[9:25:15 AM] MRC India: USDINR : R: 62.20 - 62.29 - 62.36 S: 62.04 - 61.97 - 61.88
EURINR : R: 85.34 - 85.53 - 85.65 S: 85.02 - 84.89 - 84.70
GBPINR : R: 103.82 - 104.05 - 104.37 S: 103.27 - 102.95 - 102.72
JPYINR : R: 60.75 - 60.86 - 60.95 S: 60.54 - 60.45 - 60.34

09/12/2013

OUTLOOK REMAIN WEAK FOR USDINR, EURINR, GBPINR AND JPYINR LOOK WEAK FOR THE DAY AS MARKET DROPPED AFTER ELECTION UPDATE. TECHNICAL BOUNCE CAN BE SEEN IN ALL 4 ITEM.

09/12/2013

USDINR trading range for the day is 61.6-62.16. Rupee rose while U.S. nonfarm payrolls data and state poll results are expected to determine whether the currency would sustain its recent winning run India's foreign exchange reserves rose to $291.30 billion as of November 29, compared with $286.26 billion in the earlier week, RBI said. Chidambaram has said the fiscal deficit target is a line that will not be crossed as he seeks to fend off the threat from S&P's to downgrade India's sovereign credit rating

06/12/2013

Dollar/INR
Outlook - We expect the Rupee to trade on a mixed note today taking cues from rising inflow of foreign funds along with estimates of strong hold for opposition party in recent state elections will lead to appreciation in the currency. While on the other hand, concerns of QE taper by the Federal Reserve coupled with stronger DX will lead to depreciation in the currency.

Euro/INR
Outlook - Over today’s trade, the Euro is likely to trade on a positive note as central bankers maintained interest rates and maintain loose monetary policy in yesterday’s meeting. Further, weakness in the DX will support an upside in the currency. However, sharp upside in the currency will be capped or reversal can be seen as a result of weak market sentiments along with forecast for decline in German factory orders data.

GBP/INR
Outlook - From the intra-day perspective, we expect Pound to trade on a positive note on account of central bankers maintaining its easy monetary policy. Further, weakness in the DX coupled with expectations of favorable economic data from the country will support an upside in the currency. However, sharp upside will be capped or reversal can be seen due to weak market.

JPY/INR
Outlook - Appreciation in the Yen is expected in today’s trade as a result of rise in risk aversion in market sentiments which will lead to rise in demand for the low yielding currency.

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