USDINR
On Thursday, USDINR likely to commence session between 72.95 / 73.05 levels , Pair getting support at lower levels but last trading session some Foreign bank taking profit from day high at 73.31/32 levels. Couple of sessions USDINR totally detached from dollar as well as local market move. Pair getting momentum because of it stayed longer period in oversold territory that fuelled by India weak GDP data.
Day Trend: - TREND CHANGING.
INTRADAY RANGE – 72.62 (72.89 – 73.16) 73.43
GBPUSD
Sterling should the bulls increase their momentum, it will make the price to penetrate $1.4217 level which will expose the price to $1.4250 and $1.43 price level. In case the price break down the support level of $1.4116, it will decrease to $1.4060 and $1.3950 price level.
USDJPY
USDJPY Further increase in the bulls’ pressure may break up the resistance level of $109 and the daily candle close above the $109.20 level, it will increase the price to $110.85 resistance level, and further increase will push price to $113.
EURGBP
EUR/GBP Falls as German Lockdowns Limit Retail Sales in April The Euro Pound exchange rate fell by -0.21% despite German retail sales falling more than expected in April. The pairing is currently trading around £0.8614. The Euro fell today dafter April’s lockdown restrictions in Germany limited the nation’s retail sales.
USDCNY
The Chinese foreign reserves haven’t raised much in the past year, but there are other tell-tale signs that the central bank may be resisting a stronger Yuan.
Any attempt to prevent it from rallying further would provide fresh fuel for a clash between Beijing and Washington over currency manipulation.
At around 6.3750 to the U.S. dollar; the Yuan is at its strongest level since 2018. The currency needs to rise by only a little over 5% to hit a historical high. It has rallied by almost 12% in the past year already.
OIL PRICE
Oil prices maintain upside momentum for a third day on expectations for a surge in fuel demand, particularly in the United States and Europe and China, later this year at the same time major producers are maintaining supply discipline.
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