USDINR
Happy Monday Morning, USDINR is likely to commence fresh week with mild firm note between 82.55 - 82.65 levels as dollar hovered near a five-week high against major peers on early Asian Monday morning on rising bets for prolonged Federal Reserve policy tightening ahead of a crucial consumer price report the following day.
USDINR TECHNICAL
Day Trend: - BUY
Weekly Trend: - BUY ON DIP
INTRADAY RANGE – 83.01 (82.70 – 82.40) 82.09
THE YEN
The yen slipped with the government set to nominate a candidate who backs the current policy settings as the new Bank of Japan governor on Tuesday. Sources said on Friday that former BOJ board member Kazuo Ueda is set to become the next governor. In an interview the same day, he said it was appropriate for the BOJ to maintain its current ultra-easy policy.
THE AUD & NZD
The risk-sensitive Australian and New Zealand dollars eased with Asian equities on worries that higher U.S. rates will choke growth.
THE GOLD
On Monday, Gold prices fell to near one-month lows as traders awaited more cues on the U.S. economy from key inflation data due this week, while copper prices nursed steep losses amid growing uncertainty over an economic recovery in China.
Every trader has strengths and weakness. Some are good holders of winners, but may hold their losers a little too long. Others may cut their winners a little short, but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.
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