Currency Headlines
Dollar advances as the U.S job markets gains.
Dollar might travel in bullish boat as the U.S employment has shown strength in their economy which has supported their currency as well. U.S. employers added more jobs than forecast last month and the unemployment rate dropped to an almost four-year low. The dollar rose 0.3 percent to $1.2927 per euro in New York, reaching $1.2877 the highest since Nov. 23. It was 0.1 percent stronger at 82.49 per yen after gaining as much as 0.5 percent. The euro fell 0.2 percent to 106.67 yen. The peso rose 0.2 percent to 12.8505 per U.S. dollar. The currency has strengthened 8.4 percent this year through yesterday
Asian currencies fell on U.S economic weakness.
Asian currencies were unable to sustain the 15 month’s high levels as the U.S economic weakness is receding the demand of the high yield assets. U.S fiscal cliff problem has started acting as a resistance for Asian assets. The ringgit weakened 0.4 percent this week to 3.0508 per dollar. Indonesia’s rupiah fell 0.3 percent to 9,625 and the Philippine peso declined 0.1 percent to 40.933. India’s rupee advanced 0.2 percent to 54.1375 after lawmakers endorsed a plan to open the market to foreign retailers. China’s yuan was little changed at 6.2301 per dollar versus 6.2300 a week ago, according to China Foreign Exchange Trade System. Thailand’s baht traded at 30.67 per dollar, little changed from 30.69 on Nov. 30. South Korea’s won gained less than 0.1 percent to 1,082.40 and Taiwan’s dollar climbed 0.2 percent to NT$29.06.
TECHNICAL INSIGHT USD INR (DEC – Expiry)
US dollar looking strong on charts, hence buying is recommended.
Buy above 54.7400 with a SL 54.6300 possible targets of
54.8600/54.9600/55.1100.
EUR INR (DEC – Expiry)
Euro is technically strong, hence buying is recommended.
Buy above 70.6500 with a SL of 70.5700 for possible targets of 70.7800/70.9000/70.9900.
JPY INR (DEC – Expiry)
Yen looking strong on charts, hence buying is recommended.
Buy above 66.3800 with SL of 66.2600 with possible targets of 66.5100/66.6150/66.7600.
GBP INR (DEC – Expiry)
Pound is looking strong hence buying is recommended.
Buy above 87.6525 with a SL of 87.5500 targets would be 87.8000/87.9700/88.1000.
Dollar advances as the U.S job markets gains.
Dollar might travel in bullish boat as the U.S employment has shown strength in their economy which has supported their currency as well. U.S. employers added more jobs than forecast last month and the unemployment rate dropped to an almost four-year low. The dollar rose 0.3 percent to $1.2927 per euro in New York, reaching $1.2877 the highest since Nov. 23. It was 0.1 percent stronger at 82.49 per yen after gaining as much as 0.5 percent. The euro fell 0.2 percent to 106.67 yen. The peso rose 0.2 percent to 12.8505 per U.S. dollar. The currency has strengthened 8.4 percent this year through yesterday
Asian currencies fell on U.S economic weakness.
Asian currencies were unable to sustain the 15 month’s high levels as the U.S economic weakness is receding the demand of the high yield assets. U.S fiscal cliff problem has started acting as a resistance for Asian assets. The ringgit weakened 0.4 percent this week to 3.0508 per dollar. Indonesia’s rupiah fell 0.3 percent to 9,625 and the Philippine peso declined 0.1 percent to 40.933. India’s rupee advanced 0.2 percent to 54.1375 after lawmakers endorsed a plan to open the market to foreign retailers. China’s yuan was little changed at 6.2301 per dollar versus 6.2300 a week ago, according to China Foreign Exchange Trade System. Thailand’s baht traded at 30.67 per dollar, little changed from 30.69 on Nov. 30. South Korea’s won gained less than 0.1 percent to 1,082.40 and Taiwan’s dollar climbed 0.2 percent to NT$29.06.
TECHNICAL INSIGHT USD INR (DEC – Expiry)
US dollar looking strong on charts, hence buying is recommended.
Buy above 54.7400 with a SL 54.6300 possible targets of
54.8600/54.9600/55.1100.
EUR INR (DEC – Expiry)
Euro is technically strong, hence buying is recommended.
Buy above 70.6500 with a SL of 70.5700 for possible targets of 70.7800/70.9000/70.9900.
JPY INR (DEC – Expiry)
Yen looking strong on charts, hence buying is recommended.
Buy above 66.3800 with SL of 66.2600 with possible targets of 66.5100/66.6150/66.7600.
GBP INR (DEC – Expiry)
Pound is looking strong hence buying is recommended.
Buy above 87.6525 with a SL of 87.5500 targets would be 87.8000/87.9700/88.1000.
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