USD/INR – The Indian rupee opened lower against the dollar ahead of crucial trade talks between the U.S. and China. The rupee opened at 69.88 versus the dollar compared with its previous close of 69.71. Asian equities and currencies extended losses on Thursday before the U.S.-China trade talks. Chinese Vice-Premier Liu He will hold negotiations with U.S. officials on Thursday and Friday in Washington after tensions between the two countries ratcheted higher following President Donald Trump remarks that he plans to increase tariffs on Chinese shipments. The U.S. has accused China of backtracking on previous promises and Trump has said that he is considering taxing all imports out of the Asian nation. Trump said on Twitter yesterday that Beijing had informed Washington that the Chinese Vice-Premier is “coming to the U.S. to make a deal.” He added that if a deal did not materialize, he is “very happy with over $100 Billion a year in tariffs filling U.S. coffers.”
EUR/USD – Against the dollar, the euro was a shade higher at $1.1196, having spent the week stuck in a tight $1.1218-$1.1155 range. EUR/USD remains holed up in the 1.1200 region, shrugging off growing risks that might normally put bears in control. The EU Commission's downgraded outlook , heightened U.S.-Sino trade tensions and 10-year German bund yields trading near -0.05 percent are all factors that should have EUR/USD trading near the 2019 low at a minimum. Bears might be treading cautiously as economic green shoots from the euro zone keep popping up, which could keep the ECB from adding stimulus to the economy as many investors have expected. The U.S. interest rate complex could be limiting the downside as well. If bears don't gain control of EUR/USD soon, odds of an upside move will increase.
16 Oct 2019 05:50 PM
On a daily single currency chart, we trace from 1.1414 – high seen on Jun 25 to recent low of Oct 1 at 1.0879, the Fibonacci retracement levels of 38.2% are at 1.1083 and above that at 1.1147 which is a 50% level. After touching a low at the start of
15 Oct 2019 06:25 PM
Analysing the daily chart of GBPINR, we observe that the price action is trading in uptrend channel connected by the upper trend line and the lower trend line. The price action is currently trading near the upward trend line, which is acting as a nea
11 Oct 2019 06:02 PM
Analysing daily chart of XAGUSD, we observe that after a sharp rally in the price action, the price action entered a consolidation phase. We can notice the formation of a falling wedge by the price action formed by connecting the upper trend line and
10 Oct 2019 05:29 PM
The news of a probable currency accord between US and China inched the Asian peers and helped hold the 107.50 handle for Japanese Yen. But today’s trade discussions will confirm the above which may again give a glimpse of 108 for Yen.
09 Oct 2019 06:35 PM
Analysing daily chart of GBPINR, we observe the formation of Head and Shoulders# pattern by the price action – the peak of the right shoulder being lower than the peak of the left shoulder – with the neckline at 86.42. Also, the width of the head is
07 Oct 2019 06:43 PM
Analysed on a daily chart - where the prices have started consolidating after