Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Mtechtips MCX-SX USDINR INTRADAY trading analysis 05-10-2016

% of readers think this story is Fact. Add your two cents.


Mtechtips MCX-SX USDINR INTRADAY trading analysis 05-10-2016

MTECHTIPS Dollar/rupee traded up while the dollar index traded plunged during early Asian trades Wednesday as investors booked their profits taking advantage of the sharp fall in the greenback during the previous trading session.However, traders will focus on the US jobs report due Friday, for a clear read on the health of the labour market.The greenback plunged on profit-booking by the traders after the dollar index rose to eight-week high on Tuesday as better than expected US manufacturing index increased investors’ bets for a near-term rate hike by the Federal Reserve.Meanwhile, Federal Reserve Chicago President Charles Evans said in comments that the case for raising short-term interest rates remains fairly weak and also suggested the Fed would likely have to let the economy run hot to get weak inflation back up to desired levels.The Indian central bank cut its policy repo rate by 25 basis points to 6.25%, the lowest in more than 5 years, from 6.50%. Consequently, the reverse repo rate was reduced to 5.75% from 6.00% and marginal standing facility (MSF) rate and the Bank Rate to 6.75 per cent.USDINR retraced from the day high 66.8475 and tested 66.62 before closing at 66.6925 levels. Intraday price action resulted in formation of high wave stick is pointing neutralize some of the bearish momentum, however any rise towards 66.95-67.00 is expect to selling activities again  following to previous swing low break down. Further, pair would need to trade above 67.25 in order to test 67.55-67.70.

WWW.MTECHTIPS.COM

07489294118-119



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.