ICICI Direct, US dollar increased by 0.15% yesterday on improved economic data from US and on anticipation of monetary tightening.
October 27, 2021 / 08:43 AM IST
ICICI Direct’s currency report on USDINR
US dollar increased by 0.15% yesterday on improved economic data from US and on anticipation of monetary tightening. US consumer confidence unexpectedly rose in October ending three consecutive month declines and new home sales jumped 14% in September. However, sharp upside was capped on rise in risk appetite in the global markets and decline in US treasury yields • Rupee future maturing on October 27 appreciated by 0.17% in yesterday’s trading session on softening of crude oil prices and positive domestic markets • The rupee is expected to depreciate on strong dollar and surge in crude oil prices. Additionally, investors will remain vigilant ahead of the outcome of major central banks monetary policies and key economic data from US. However, sharp fall may be prevented on positive global market sentiments.
Intra-day strategy
| USDINR November futures contract (NSE) | |
| Buy USDINR in the range of 75.18-75.20 | |
| Target: 75.50 | Stop Loss: 75.05 |
| Support: 75.10/75.05 | Resistance: 75.45/75.50 |
Disclaimer:
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