Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Market Commentary

| More

FX Monitor - June 2, 2020 - Geojit

Posted On: 2020-06-02 10:36:40


- Indian Rupee ended at 75.54 yesterday, up 8 paise against its previous close of 75.62.

- FBIL set the reference rate for USDINR at 75.6369 and Euro at 83.9146.

- In economic news, India's manufacturing PMI stood at 30.8 in May against 27.4 in April.

- US dollar slipped as investors turned away from safe haven assets.

- On the data front, US manufacturing PMI recovered to 39.8 in May from 36.1 MoM.

- Euro was steady while UK's pound edged higher,

- ECB will meet for its interest rate decision meeting on Thursday.

- Japan's yen was mostly unchanged as waited more catalyst.

USDINR Outlook

Despite a weak manufacturing data, the Indian rupee ended over two week high against USD as the latter weakened overseas and fund inflows. The government decision to re-open the economy after a lockdown and positive domestic equity also aided the uptrend. Local unit today opened at 75.35 a dollar and hit an intraday high of 75.29 before settling the day at 75.54 against Friday's closing of 75.62. On the previous day, Rupee appreciated by 14 paise.

FIIs were buyers in the capital markets segment; bought shares worth Rs 1575.46cr on 01 June as per exchange's provisional figures. DIIs, on the other end were sellers to the tune of Rs 459.25cr for the same period. Led by coronavirus led closedown, the domestic manufacturing PMI contracted for a second month in May. Oil prices to take cues from the news of price hike in Saudi Arabia in July and from the OPEC meeting this Thursday. Now the focus will fall on central banks' around the globe, where ECB will be in the first one to meet for its monetary policy meeting this week.

For USDINR, 75.71 and 75.98 may act as a crucial level in the upside while 75.29 and 75.05 will act as major support levels.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Technical View - July 8, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Profit booking seen in last hour of trade: Angel Broking

Daily Markets - July 8, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 8, 2020 - Bonanza Portfolio

Financial space drives the rally, base shifts at 10689: Angel Broking

Daily Markets - July 7, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Technical & Derivatives Report - 7th July 2020 - Angel Broking

Technical View - July 7, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Technical View - July 6, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - July 6, 2020 - Bonanza Portfolio

Nifty continues its upmove, midcaps in momentum: Angel Broking

Daily Markets - July 6, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Market Outlook - F&O - Amit Gupta, Head - Derivatives, ICICI direct

Market Outlook - Technical - Dharmesh Shah, Head - Technical, ICICI direct

Broader market outperformance to extend.. - Market Outlook - ICICI Securities

Daily Market Commentary - July 3, 2020 - Bonanza Portfolio

Technical View - July 3, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - July 2, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - July 2, 2020 - Bonanza Portfolio

Indian Rupee - July 2, 2020 - Mr. Anuj Gupta (DVP-Commodities & Currencies Research, Angel Broking)

Nifty at 4-months high, base shifts at 10300: Angel Broking

Technical View - July 2, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Markets Daily - July 1, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Financial space takes a lead, Nifty reclaims 10400: Angel Broking

Daily Market Commentary - July 1, 2020 - Bonanza Portfolio

Technical View - July 1, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - June 26, 2020 - Bonanza Portfolio

Technical View - June 26, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Market Outlook - F&O - June 26, 2020 - ICICI Securities

Market Outlook - Technical - June 26, 2020 - ICICI Securities

Stock specific activity to remain in focus amid consolidation in benchmark indices... - ICICI Securities

Bulls defended the territory, better to take one step at a time: Angel Broking

Daily Markets - June 25, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - June 25, 2020 - Bonanza Portfolio

Technical View - June 25, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Markets - June 22, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - June 22, 2020 - Bonanza Portfolio

Technical View - June 22, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Broader markets witness buying momentum: Angel Broking

Daily Market Commentary - June 19, 2020 - Bonanza Portfolio

Technical View - June 19, 2020 - Mr. Nagaraj Shetti, Technical Research Analyst, HDFC Securities

Daily Market Commentary - June 18, 2020 - Bonanza Portfolio

Daily Markets - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Nifty reclaims 10000 with some authority: Angel Broking

Call writers compelled to unwind positions on expiry day: Angel Broking

Geopolitical concerns keeps market on toes: Angel Broking

Daily Markets - June 17, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities

Daily Market Commentary - June 17, 2020 - Bonanza Portfolio

Geopolitical concerns haunts street, but manages to recover: Angel Broking

Markets Daily - June 16, 2020 - Mr. Deepak Jasani, Head Retail Research, HDFC Securities







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019