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
22 April, 2018 19:37 IST
Buy USD/INR May futures in 64.40-64.50 range: ICICIdirect
Source: IRIS | 09 May, 2017, 08.59AM
Comments  |  Post Comment

ICICIdirect expects the USD to find supports at lower levels. ''Utilise downsides in the pair to go long on the USDINR pair. May futures in the range of 64.40-64.50 with target 64.70-64.90.''

The rupee rose for the first time in three sessions against USD, as victory for pro-European Union leader Emmanuel Macron at the French presidential election spurred a rally in risk assets. Risky assets continued to gain over the outcome of French presidential elections.

USD and Japanese Yen faced selling over subsiding risk aversion. We expect British pound to see some profit booking at this levels while the US$ may remain in a range against major currencies.

In the currency futures market, the most traded dollar-rupee May contract on the NSE ended at 64.48. The May contract open interest declined 0.75% from the previous day. June contract open interest increased 3.47% in the last session.

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
Security Code type    into this box
Expert Speak
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