USDINR
USDINR well maintained bullish momentum before the last trading session of the week, we are expecting pair commence Friday session between 74.50-74.60 levels as greenback at multi-month peaks against other majors currencies, as traders wagered strong U.S. labor data could lift it even further.
On Thursday India’s June unemployment rate fell to 9.17% from the May figure of 11.90%, data from the Centre for Monitoring Indian Economy (CMIE).
The RBI’s Financial Stability Report found, capital to risk-weighted assets ratio of Indian banks increased to 16.03% and the provisioning coverage ratio stood at 68.86% in March 2021.
Day Trend: - BULLISH (BUY ON DIP).
INTRADAY RANGE – 74.10 (74.41 – 74.71) 75.02
GBPUSD
The Cable is bearish, sellers intensify their pressure on Cable. The bulls pushed up the price towards the dynamic resistance level and could not break up the level. The bears took up the market with the formation of more bearish daily candles. Another daily strong bearish candle emerges and it break down the support level of $1.37. The price currently targeting the support level of $1.36 level.
OIL PRICE
The standoff between the United Arab Emirates and the rest of the cartel could ultimately mean that OPEC+ won’t increase production at all, according to a delegate. The group earlier appeared to have an agreement in principle to boost output by 400,000 barrels a day each month from August to December.
ASIAN INDICES (As of writing)
South Korea’s KOSPI inched up 0.14%. According to data released earlier in the day, the country’s consumer price index rose a lower-than-expected 2.4% (YoY) in June.
China’s Shanghai Composite down 1.55% and the Shenzhen Component fell 1.69%. The Caixin PMI for June, released on Thursday, was also a lower-than-expected 51.3.
Hong Kong’s Hang Seng Index fell 1.82%, with markets reopening after a holiday.
Japan’s Nikkei 225 was up 0.26%.
Australia, the ASX 200 was up 0.38%.
Comments