Get to see the latest forex market movement trends updated many times a day during forex trading hours. International Forex Market Trends and Market Analysis Report provided by our professional forex trade dealing professionals and research team for the benefit of all our forex customers.
International Forex Market Trends and Rates for USD, Euro and Pounds provided below was last updated on Dec 07 ~ 09:00 - Indian Standard Time.
Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -68.31/68.51----72.42/72.75-----85.45/86.43-------
Today range ------68.25/68.45-----------------------------------------------
& current month--68.00/69.20----------------------------------------------
The Indian rupee ended stronger at 68.34/35 against dollar from its previous close of 68.3775/3875, as foreign banks continued to sell the greenback, helping the local unit erase losses triggered by rising bets of a Federal Reserve rate hike this month.
SPOT/INR:The Indian Rupee opened stronger at 68.28/29 against US Dollar, tracking broad weakness in the greenback ahead of U.S. monthly jobs data due late today..
FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.
GLOBAL DEVELOPMENTS:Asian shares lost some of their recent gains on Friday, after lackluster sessions on Wall Street and Europe, while 10-year U.S. Treasury yields and crude futures pulled back from multi-month highs hit overnight. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.6 percent, but remained on track to end the week up 0.6 percent. Japan's Nikkei, which jumped to an 11-month high on Thursday, slipped 0.6 percent on Friday. It is set for a weekly gain of 0.1 percent. South Korean shares dropped 0.7 percent, extending weekly losses to 0.25 percent, after opposition parties said they would propose a motion later on Friday to impeach President Park Geun-hye over an influence-peddling scandal, with the intention of holding a vote on her impeachment on Dec. 9. Investors are eyeing November's non-farm payrolls report, due later in the session, for further evidence of improvement in the economy, after data showed factory activity accelerating in November and construction spending at a seven-month high in October. The strong data boosted expectations of higher interest rates. Expectations for higher rates were already running high because of anticipated inflationary pressures from rising oil priced and President-elect Donald Trump's promises of fiscal stimulus and infrastructure spending. Global benchmark Brent futures jumped to a 16-month high of $54.53 a barrel on Thursday after the Organization of Petroleum Exporting Countries agreed its first output cut since 2008. Russia also agreed to reduce production for the first time in 15 years. They pulled back 0.8 percent on Friday to $53.55 as investors took profits, but are set for a weekly rise of 13.4 percent. Having climbed 13 percent in the past two days, U.S. crude surrendered some gains on Friday, falling 0.6 percent to $50.85. It is on track for an increase of 10.3 percent this week. The dollar index, which tracks the greenback against a basket of six major global peers, slipped 0.2 percent on Friday, extending losses for the week to 0.7 percent.
TODAY'S ECONOMIC DATA:China GDP QQ & YY @ 12.15 IST, Britain Markit / CIPS cons PMI @ 15.00 IST, Eurozone Producer Prices MM & YY @ 15.30 IST, Canada Employment Change, Unemployment rate, full time employment, part time, participation rte, labor productivity rate @ 19.00 IST, US non farm payrolls, private payrolls, manufacturing payrolls, government payrolls, government payrolls, unemployment rate, average earnings MM, average workweek Hrs @ 19.00 IST, US U6 underemployment, US ISM, ECRI weekly index & annualized @ 21.00 IST.
NEAR TERM OUTLOOK FOR RUPEE:The near term range has shifted higher with immediate Resistance now at 67.50 and the psychologically 66.75 acting as a strong support.
POSITIVE FACTORS FOR RUPEE:
1.US ban lifted on Iran .
FACTORS AGAINST RUPEE:
1. Demand from importers. (Oil & Defence)
2. Current Account deficit.
3. Fed's interest rate hike
|Currency||For Export||For Import||Month||For Export||For Import|
|Indicative Rates||Indicative Forward Rates|
|Indicative Cross Rates||JAN 2017||68.40||68.71|
Note: This information is given only for guidance purpose without any obligation on the part of TMB or any of its officials. Any person dealing on the basis of the said information does so at his own risks and no objection arises to TMB or any of its officials. All such trading involves risks.
Exchange Rates Information last updated in part or full on Monday, December 05, 2016 - 9:49 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).
|Currency||CCY Buying||CCY Selling||TC Buying||TC Selling|
Prime Rates for US Dollar w.e.f. December 18, 2008 is 3.25%
|Currency||1y - <2y||2y - <3y||3y - <4y||4y - <5y||5y|
Our Contact Email ID: firstname.lastname@example.org