Currency forecast 7 February 2014

Currency forecast 7 February 2014

MCX-SX Currency future premarket outlook

USDINR February expiry future last closed at 62.63 with 20 paisa loss. Today in Intraday MCX-SX Dollar-rupee future hit high at 62.77 while low was 62.53. Total 25-paisa intraday range and closed with loss. For tomorrow, US dollar future is bearish and targets remain on downside as equity sees inflow.

 

EURINR February future last closed at 84.71with loss of 16 paisa. Today in Intraday MCX-SX Euro-rupee future hit high at 84.88 while low was 84.60. Total almost 28-paisa intraday range and closed with loss. For tomorrow, euro-future outlooks are bearish and expect 30-50 paisa downside.

 

GBPINR February expiry future last closed at 102.05 with loss of 16 paisa. In intraday MCX-SX Pound-rupee, future hit high at 102.4 while low was at 102.03. Total 37-paisa intraday range and closed with loss. For tomorrow pound future may continue its correction phase and heading towards major supports.

 

JPYINR February expiry future last closed at 61.7 with 36 paisa loss. In intraday MCX-SX Yen-rupee, future hit high at 61.87 while low was at 61.56. Total 33-paisa intraday range and closed with loss. For tomorrow yen, future may show more dips as yen once again resumed downtrend in international market.

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Pramod Baviskar

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