Daily FX Trends - Commentaries

USD/INR EURO/USD GBP/USD USD/JPY USD/CHF
Macro Support-Resistance Levels 85.50-88.50 1.1000-1.1900 1.3200-1.3900 138.00-160.00 0.7800-0.8600
Sentiment against USD Neutral Positive Positive Neutral Neutral
Forecast for the day 87.30-87.65 1.1690-1.1735 1.3540-1.3590 145.00-147.00 0.8040-0.8080

Rupee opened tad lower at 87.47 levels, despite of dollar trading weaker across the board as expectations of rate cuts are building up. Equity market benchmarks are trading about 0.1 higher.



DXY is trading lower at 97.76 level today. Dollar index slid below 98 yesterdays after US inflation data bolstered expectations for a Fed rate cut next month. In addition, Treasury Secretary Bessant commented that the Fed should go for 4-5 rate cuts.

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