Karvy has come out with its report on currencies. According to the research firm, one can Buy USDINR Strategy 67.20 - 67.16; for the target of 67.38 with a stop loss of 67.06.
Karvy's research report on Currencies
US dollar index is trading at 96 . 62 , appreciating marginally in yesterday’s trade . There was limited data was reported and equity markets performance in the US and elsewhere helped devise the direction for the currencies . Building permits data that is scheduled to be reported today would have limited impact on the dollar but economic sentiment from Europe and UK inflation could raise the demand for dollar.
Euro is trading at 1 . 1070 , continuing to trade closer to the 1 . 11 with no major change in the last few weeks . There was no major data from the EU and the currency remained hinged to the 1 . 11 levels . There would be focus on the zew economic sentiment for Germany and Europe that is scheduled to be reported today . Euro is likely to remain under pressure going into the ECB meeting on Thursday.
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.The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jul 19, 2016 10:21 am