MONDAY FX OUTLOOKS:- USDINR IN RANGE, ASIA UP, OIL UP, EUROPE INFLATION READINESS!!

USDINR

The USDINR unit struck in range from last week between 82.50 – 82.80 levels, we are expecting pair commence Monday session between 82.65 – 82.75 levels as dollar gained against the euro and Japanese yen after the August jobs report showed a still strong labor market, despite some signs of deterioration.

USDINR TECHNICAL

Day Trend: - BUY ON DIP

Weekly Trend: - HOLD

INTRADAY RANGE – 82.98 (82.78 – 82.59) 82.39

THE ASIA

Asian shares inched higher as markets wagered the Federal Reserve was done raising U.S. interest rates, and on hopes the drip feed of policy stimulus from Beijing would be enough to stabilise the Chinese economy.

THE OIL

Oil prices were near seven-month highs on tightening supply as Saudi Arabia was widely expected to extend a voluntary 1 million barrel per day oil production cut into October.

THE EUROPE

European Central Bank policymaker said that weaker economic growth could bring euro zone inflation down faster, but a resilient labor market continues to produce quick wage growth, creating upside risk for prices.