USD/INR Spot ; Keep Eye on 71.15, Daily Chart Show Target – 71.80 Ultimate Target 74$ Very Very Soon – Neal Bhai Reports Technical Power of …
The US dollar has steadied after pulling back in recent days, but the downside correction does not appear complete, and month-end flows are still a risk to picking a dollar-bottom.
Gold Silver Reports (GSR) – As the rupee remains below the 70 mark to a dollar, having weakened the most among Asian peers so far this year, analysts said it’s expected to boost earnings for software exporters and pharmaceutical companies and hurt sectors with high dollar-denominated debt.
India’s foreign exchange reserves fell by $33.2 million to $400.847 billion in the week to 17 August mainly due to fall in foreign currency assets, according to RBI data.
In the previous week, the forex reserves had witnessed a drop of $1.822 billion to $400.881 billion.
Donald Trump may want to watch what he wishes for. If Federal Reserve boss Jerome Powell does what the president wants, American assets could lose their appeal as a global haven.
This Great Graphic depicts what appears to be a head and shoulders top in the hourly bar chart of the Dollar Index. The neckline is found near 96.00 and rotating the pattern along it produces a measuring objective near 95.00.
USD/INR Spot Updates – Keep Eye on 69, if hold and Closed above market ready for new high $75 Sure.