Indian rupee renews record low at 78.40 on sour sentiment, hawkish Fed bets

USD/INR refreshes all-time high before retreating to 78.20, prints four-day uptrend. Fears of aggressive Fed action join China-linked news to propel USD. India bond yields track US counterparts to jump to the highest levels since 2019. USD/INR jumps to the lifetime high of 78.40 during a four-day uptrend heading into Monday’s European session, consolidating daily … Read more

Three-week-old hurdle defends Indian rupee buyers

USD/INR again retreats from a short-term key horizontal hurdle. 100-SMA, monthly ascending trend line to test pair sellers. RSI conditions, sustained trading beyond 200-SMA keeps buyers hopeful. USD/INR fades the previous day’s corrective pullback, easing from a three-week-old horizontal resistance to 77.71 during Thursday’s mid-Asian session. In doing so, the Indian rupee (INR) pair portrays … Read more

Indian rupee sellers run out of steam, 77.50 in focus

USD/INR remains sidelined inside a 12-day-old symmetrical triangle. 100-SMA restricts immediate downside, 200-SMA acts as additional support. Descending RSI (14) keeps bears hopeful unless crossing 78.00. USD/INR pares intraday losses around 77.60, staying within a fortnight-long triangle, during early Wednesday morning in Europe. While a short-term trading range below 78.00 restricts USD/INR upside, the pair … Read more

Rupee struggles below 78.00 as Moody’s cut India GDP forecasts

USD/INR eyes the first weekly loss in four despite the latest inaction. Moody’s cut India’s calendar year 2022 GDP forecasts to 8.8%. US dollar’s slump to monthly low challenges ahead of buyers of the Fed’s preferred inflation gauge. USD/INR pares daily losses around 77.60, following an uptick towards the weekly top, as India’s GDP cut … Read more

Indian rupee eases inside routine range above 77.00 amid indecision

USD/INR picks up bids to snap three-day downtrend, bounces off weekly low. FOMC Minutes, RBI’s assurance to limit “runaway” INR slump challenge pair buyers. Firmer oil prices, subdued sentiment and exodus of funds from Indian equities bar gate for bears. US GDP, Fed’s preferred inflation gauge will be important this week, risk catalysts should be … Read more