Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Market Commentary

| More

Rupee - July 23, 2021 - Reliance Securities

Posted On: 2021-07-25 07:28:23 (Time Zone: UTC)


Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities

The Indian Rupee appreciated against the dollar and posted its third consecutive weekly rise against the dollar, as risk appetite improved as regional equities and currencies shrugged off worries over a surge in coronavirus infections.

Exporter dollar sales and corporate dollar inflows also aided sentiments.

The Rupee appreciated by 0.2% this, adding to total gains of 0.2% in the last two weeks.

Earlier in the week, regional equities and currencies had weakened following concerns that a surge in coronavirus infections in the U.S. and countries in Asia and Europe could hamper prospects of a swift economic rebound.

However, regional currencies and equities recouped losses on hopes that the impact of the virus may be limited.

The Dollar was set to end the week with small gains after a turbulent few days when currencies were buffeted by shifting risk appetite.

The dollar also got a lift from dovish European Central Bank comments.

ECB met expectations by pledging to keep interest rates at record lows for even longer.

The single currency fell as investors digested the European Central Bank statement and slightly dovish comments by ECB President Christine Lagarde.

Rest of the currencies were weak against the Greenback this week.

OUTLOOK

Currency traders and investors will look to cues from the Fed's policy decision, due next week.

Investors will be closely eyed to assess the timing of the next bond taper, especially since labour market data is suggesting that economic recovery may have peaked.

Fed fund futures now reflect a lower possibility of the U.S. central bank raising rates next year.

On the other hand, other data like durable goods orders and U.S GDP data for 2nd quarter could also drive markets.

Back home, the local unit could look to the dollar inflows and dollar sales.

Technically, the USDINR Spot pair immediate resistance remains at 74.67-75.02 levels. Support is placed at 74.30-74.16 levels. The USDINR Spot pair could trade in a range of 74.10-74.80 levels in coming week.

Internationally, on the charts, the Dollar Index holds a support of 21-Daily Moving Average which is placed at $92.47 level above which will continue its bullish momentum up to $93.20-$93.44 levels. Support is at $92.50-$92.27 levels.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Rupee - Weekly Currency Wrap - Sep 18, 2021 - Reliance Securities

Rupee - Sep 17, 2021 - Reliance Securities

Daily Market Wrap - Sep 17, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 17, 2021 - Bonanza Portfolio

Post Market views - Sep 17, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 17, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Sep 16, 2021 - Reliance Securities

Daily Market Wrap - Sep 16, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 16, 2021 - Bonanza Portfolio

Post Market views - Sep 16, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 16, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Sep 15, 2021 - Reliance Securities

Daily Market Commentary - Sep 15, 2021 - Bonanza Portfolio

Post Market views - Sep 15, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 15, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Sep 14, 2021 - Reliance Securities

Daily Market Commentary - Sep 14, 2021 - Bonanza Portfolio

Daily Market Wrap - Sep 14, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Post Market views - Sep 14, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - Sep 13, 2021 - Reliance Securities

Daily Market Wrap - Sep 13, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 13, 2021 - Bonanza Portfolio

Post Market views - Sep 13, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 13, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Wrap - Sep 9, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 9, 2021 - Bonanza Portfolio

Post Market views - Sep 9, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 9, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Rupee - Sep 8, 2021 - Reliance Securities

Daily Market Wrap - Sep 8, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 8, 2021 - Bonanza Portfolio

Post Market views - Sep 8, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 8, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Wrap - Sep 7, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Rupee - Sep 7, 2021 - Reliance Securities

Daily Market Commentary - Sep 7, 2021 - Bonanza Portfolio

Post Market views - Sep 7, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 7, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Wrap - Sep 6, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 6, 2021 - Bonanza Portfolio

Rupee - Sep 6, 2021 - Reliance Securities

Technical View - Sep 6, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Post Market views - Sep 6, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Rupee - Sep 4, 2021 - Reliance Securities

Rupee - Sep 3, 2021 - Reliance Securities

Daily Market Wrap - Sep 3, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities

Daily Market Commentary - Sep 3, 2021 - Bonanza Portfolio

Post Market views - Sep 3, 2021 - Mr. Binod Modi, Head Strategy at Reliance Securities

Technical View - Sep 3, 2021 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Wrap - Sep 2, 2021 - Mr. Deepak Jasani, Head of Retail Research, HDFC Securities


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020