USD/INR Spot (current 49.97):
USD/INR found support at the buy zone of 49.85-49.75 (low of 49.83) for gradual move into 50.02 to set up a 15 paisa intraday trade.
EUR/USD (current 1.3065):
Missed t/p on our shorts at 1.3175-1.3190 (low of 1.3032). Now place a trail stop at 1.3125 and t/p at 1.3000-1.2975
USD/JPY (current 83.40):
We are short average at 83.00. the stop was placed above 83.50 (high of 83.49). Looking bid now; continue to watch stop above 83.50 with t/p at 82.25
USD/INR FX premium (Mar/Feb at 280)
Hold on to Mar/Feb received entered at 285-288 with t/p at 258
Bond/OIS (current 10Y bond at 8.26% and 5Y OIS at 7.50%):
10Y bond yield reversed sharply from 8.36% to 8.25%; played end-to-end of 8.25-8.35%. Let us stick to the set short term range of 8.10-8.35%; rate cut tomorrow will drive the yield 8.10% and no change will see sell off into 8.35-8.50%.
5Y OIS eased from above 7.55% to below 7.50%. We watch 7.30-7.55%; rate will drive the rate into the lower end while pause mode will see sharp rise to 7.65%
1Y OIS rate down into 8.05%, lower end of 8.05-8.15%. We watch consolidation at 8.0-8.15%
NIFTY:
The uptrend is firmly in place closed at 5464 losing steam at 5500 (high of 5499). No change in view for 5550-5625.
Gold (current 1655):
Fell sharply into the lower end of 1650-1750 (low of 1654) but looks weak for extension into 1630-1615. Let us stay aside for now.
Have a great evening..............Moses Harding
USD/INR found support at the buy zone of 49.85-49.75 (low of 49.83) for gradual move into 50.02 to set up a 15 paisa intraday trade.
EUR/USD (current 1.3065):
Missed t/p on our shorts at 1.3175-1.3190 (low of 1.3032). Now place a trail stop at 1.3125 and t/p at 1.3000-1.2975
USD/JPY (current 83.40):
We are short average at 83.00. the stop was placed above 83.50 (high of 83.49). Looking bid now; continue to watch stop above 83.50 with t/p at 82.25
USD/INR FX premium (Mar/Feb at 280)
Hold on to Mar/Feb received entered at 285-288 with t/p at 258
Bond/OIS (current 10Y bond at 8.26% and 5Y OIS at 7.50%):
10Y bond yield reversed sharply from 8.36% to 8.25%; played end-to-end of 8.25-8.35%. Let us stick to the set short term range of 8.10-8.35%; rate cut tomorrow will drive the yield 8.10% and no change will see sell off into 8.35-8.50%.
5Y OIS eased from above 7.55% to below 7.50%. We watch 7.30-7.55%; rate will drive the rate into the lower end while pause mode will see sharp rise to 7.65%
1Y OIS rate down into 8.05%, lower end of 8.05-8.15%. We watch consolidation at 8.0-8.15%
NIFTY:
The uptrend is firmly in place closed at 5464 losing steam at 5500 (high of 5499). No change in view for 5550-5625.
Gold (current 1655):
Fell sharply into the lower end of 1650-1750 (low of 1654) but looks weak for extension into 1630-1615. Let us stay aside for now.
Have a great evening..............Moses Harding
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