Forex Analysis Report

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Forex Analysis Report

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 Jan 23 ~ 09:30 - Indian Standard Time.

Latest Inter Bank Rates (Updated Every 15-30 Minutes)

Table showing Live Market Rates updated hourly
CurrencyBuySell
US Dollar68.050068.0700
Euro73.050073.3000
GB Pounds84.500084.7500

Market Trend Analysis - INR / USD / EURO / GBP

Trend Indicators against INR
- - - - - - - - - - - - - - -USD - - - - - - - -EURO - - - - - - - -GBP - - - - - -
Previous day--- -67.95/68.1450----72.22/72.68-----82.70/83.42-------
Today's opening--67.92/67.93------72.63/72.65-----83.75/83.80------
Today range ------67.75/68.10-----------------------------------------------
& current month--67.10/68.80----------------------------------------------


The Indian rupee ended stronger at 67.95/96, against dollar from its previous close of 68.15/16, While dollar looks quite weak globally, the price action on the pair is quite unconvincing and we see limited upside for the rupee. The pair will be vulnerable to long unwinding and accelerated downside only if the recent base near 67.70 is violateda.

SPOT/INR:The Indian Rupee opened flat at 67.92/93 against US Dollar, as greenback declined against most Asian currencies, after US president elect expresses concerns over currency’s strength.

FORWARD PREMIUM: Forward dollar/rupee premium are likely to take cues from the spot.

GLOBAL DEVELOPMENTS:Most Asian stock indexes lacked direction Wednesday following a sharp correction overnight in the dollar that sapped investor momentum. Japan's benchmark Nikkei 225 index shed 0.2 percent to 18,776.45 and South Korea's Kospi was nearly flat at 2,071.40. Hong Kong's Hang Seng jumped 1.2 percent to 23,111.29 and the Shanghai Composite in mainland China edged up 0.2 percent to 3,115.24. Australia's S&P/ASX 200 fell 0.6 percent to 5,662.90. Benchmarks in Southeast Asia were mixed. The dollar was levelling off in Asian trading after slumping overnight against most of its peers, including the yen, euro and pound. One factor behind the currency fluctuations was British Prime Minister Theresa May's speech about Britain's pending departure from the European Union, which soothed investors following months of uncertainty about the plan for an exit following the June vote. Comments by U.S. President-elect Donald Trump about the dollar being "too strong," making the U.S uncompetitive in its trading relationship with China, also added downward pressure on the greenback. Trump's comments were published in the Wall Street Journal Monday but didn't have a big impact until U.S. investors returned to work Tuesday after a long weekend. Initial investor optimism over Trump's promises to bring in business-friendly policies has been waning as reality sets in, suggested Jingyi Pan, market strategist at IG in Singapore. Markets were also buoyant because shares were poised to benefit from the dollar's weakness via the city's currency peg to the dollar, which makes investing more attractive for those using other currencies. Major U.S. benchmarks ended lower. The Dow Jones industrial average fell 0.3 percent to 19,826.77. The Standard & Poor's 500 index fell 0.3 percent to 2,267.89. The Nasdaq composite fell 0.6 percent to 5,538.73. The British pound, which rose 1.3 percent against the dollar after May's speech, slipped to $1.2337 from $1.2393. The dollar strengthened to 113.03 yen from 112.79 yen in late trading Tuesday, but is down 1.4 percent for the week so far against the Japanese currency. The euro slipped to $1.0695 from $1.070. Benchmark U.S. crude oil rose 16 cents to $52.64 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 11 cents, or 0.2 percent, to settle at $52.48 per barrel on Tuesday. Brent crude, used to price international oils, climbed 23 cents to $55.70.

TODAY'S ECONOMIC DATA:Denmark Industrial output MM, Exports, Imports MM, Trade Balance EUR SA @ 12.30 IST, China Retail sales YY @ 13.45 IST, Britain Halifax House Prices MM, Halifaxhouse price 3m/YY @ 14.00 IST, Italy unemployment rate @ 14.30 IST, Eurozone Sentix index, Unemployment rate @ 15.30 IST, US Employment Trends, Consumer Credit @ 20.30 IST, Britain Retail sales YY @ 05.31 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)

Indicative / Forward / Cross Rates:

Table showing Indicative / Indicative Forward / Indicative Cross Rates
CurrencyFor ExportFor ImportMonthFor ExportFor Import
Indicative RatesIndicative Forward Rates
USD67.9267.93JAN 201767.9268.07
Indicative Cross RatesFEB 201768.0168.31
GBP1.22961.2392MAR 201768.2368.57
EUR1.06511.0745APR 201768.4968.87
JPY113.46112.61MAY 201768.7969.13
CHF1.00710.9985JUNE 201769.0569.37

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.

Card Rates:

Exchange Rates Information last updated in part or full on Monday, January 23, 2017 - 9:57 am (GMT +05:30:00) for ready transactions. All quotations are per unit of Foreign Currency (Japanese Yen in 100 Units).

Current Card Rates Table
CurrencyTTBillsCheqsBillsTT
Foreign CurrencyBuyingSelling
EURO72.5972.6172.5273.8873.78
POUND STERLING84.1784.1984.1085.3785.25
USD67.8967.9167.8268.3968.31
CAD50.6350.6350.5651.7751.74
SWISS FRANC67.2167.2167.1468.8768.86
HKD8.708.718.638.918.88
JPY59.0859.0859.0160.4760.46
SGD47.2247.2247.1548.7248.70
AUD50.9250.9450.8552.5952.56
Current CCY / TC Rates
CurrencyCCY BuyingCCY SellingTC BuyingTC Selling
EUR71.9774.2572.1774.20
GBP83.3285.7983.5283.59
USD67.3069.0567.7368.38

Prime Rates:

Prime Rates for US Dollar w.e.f. December 18, 2008 is 3.25%

Interest Rates on FCNR-B Deposits

Table showing currently offered interest rates on FCNR-B Deposits
Currency1y - <2y2y - <3y3y - <4y4y - <5y5y
  • Above Interest Rates applicable from Jan 01, 2017 to Jan 31, 2017.
USD2.45%2.73%3.19%3.57%3.68%
GBP1.67%1.86%2.19%2.48%2.58%
EUR1.07%1.10%1.40%1.68%1.78%
CAD2.35%2.37%2.77%3.09%3.19%
AUD3.17%3.33%3.74%4.29%4.35%
JPY1.28%1.29%1.54%1.76%1.78%
CHF0.61%0.66%0.98%1.28%1.39%

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