Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
27 April, 2017 06:58 IST
Sell USD/INR March futures in 65.50-65.60 range: ICICIdirect
Source: IRIS | 21 Mar, 2017, 09.02AM
Comments  |  Post Comment

ICICIdirect expects the US dollar to meet supply pressure at higher levels. ''Utilise upsides in the pair to go short on the USDINR pair. March futures in the range of 65.50-65.60 with target 65.40-65.30.''

The rupee rose to a fresh near-17-month high against the dollar, in line with most Asian currencies as the USD stayed under pressure after the US Fed maintained its stance of a gradual pace of rate hikes in 2017.

The US dollar posted minor gains against major currencies in otherwise calm forex markets. We expect the US$ to remain under pressure and in consolidation as major dollar positive sentiment is already priced in. The pound fell as the UK has conveyed to Europe on triggering Article 50, setting the stage for two years of negotiation for separation from EU.

In the currency futures market, the most traded dollar-rupee March contract on the NSE ended at 65.44. The March contract open interest fell 1.80% from the previous day. April contract open interest rose 6.99% from the previous day.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
Suzlon achieves generation yield of 7.66 million Kwh over last 12 months in Kutch - 26-Apr-2017 14:36
Reliance Home Finance FY17 net jumps 2-fold to Rs 1.73 bn - 26-Apr-2017 12:17
LIC Housing Finance quarterly profit rises 18% - 26-Apr-2017 11:55
Nucleus Software Exports quarterly profit jumps 57.66% - 26-Apr-2017 11:42
Adani Ports form JV with France's CMA CGM - 26-Apr-2017 11:28
Kolte Patil signs redevelopment project in Mumbai - 26-Apr-2017 11:21
NIIT Tech enters into partnership with SCCC - 26-Apr-2017 11:17
Persistent Systems quarterly earnings drop 0.41% - 26-Apr-2017 10:51
M&M's arm acquires 100% stake in MANA - 26-Apr-2017 10:34
Persistent Systems enters into strategic collaboration with Partners HealthCare - 26-Apr-2017 09:50
Zensar Technologies quarterly earnings plunges 84.49% - 26-Apr-2017 09:11
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer