Buy USDINR Strategy 66.81 - 66.78; target of 66.95: Karvy

Karvy has come out with its report on currencies. According to the research firm, one can Buy USDINR Strategy 66.81 - 66.78; for the target of 66.95 with a stop loss of 66.68.
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Oct 18, 2016, 10.14 AM | Source: Moneycontrol.com

Buy USDINR Strategy 66.81 - 66.78; target of 66.95: Karvy

Karvy has come out with its report on currencies. According to the research firm, one can Buy USDINR Strategy 66.81 - 66.78; for the target of 66.95 with a stop loss of 66.68.

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Buy USDINR Strategy 66.81 - 66.78; target of 66.95: Karvy

Karvy has come out with its report on currencies. According to the research firm, one can Buy USDINR Strategy 66.81 - 66.78; for the target of 66.95 with a stop loss of 66.68.

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, Karvy Stock Broking |

Karvy's research report on Currencies

Currencies

USDINR

US dollar index is trading at 97. 67 , depreciating against the majors after weaker than expected manufacturing and industrial production data was reported yesterday . Comments from FED vice chair person Fischer were mildly hawkish but failed to support the dollar . US reports its inflation data today and this data is unlikely to be market moving . We expect a slow day of trading with the chances of US dollar regaining some ground.

EURINR

Euro is trading at 1.1018 , rebounding from lower levels as the US dollar retreated . Economic data reported yesterday was in line with expectations with the inflation for the month of September being reported at 0 . 4 % . Focus would be on the European monetary policy meeting on Thursday and we can expect the Eurusd pair to hover near the 1 . 10 mark going into the event.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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Buy USDINR Strategy 66.81 - 66.78; target of 66.95: Karvy

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