Forex is a segment that trades round the clock and thus it makes sense tread this path with caution. a numerous traders are treading the cryptocurrency path and we are dead against it as it is still not legally allowed in India. Do check what Warren Buffett thinks of Bitcoin here. The forex report for the week is as listed below in subsequent para:
The Indian rupee lost over half a percent last week against the US dollar. The domestic currency closed at 75.55 versus the preceding week’s close of 75.10.
India's foreign exchange reserves increased by USD 1.622 million to USD 481.078 billion in the week ending May 1, due to a rise in foreign currency assets.
The US economy lost 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression, and the starkest sign yet of how the novel coronavirus pandemic is battering the world's biggest economy.
Britain's central bank voted to maintain interest rates at 0.1% and continue its £200 billion corporate and government bond-buying program.
On the technical front, the overall structure for the USDINR pair remains bullish and the strategy for the week will be to buy around 75.60 marks, keeping a stop loss below 75.20 for the target of 76.10 marks.
We look forward to your experiencing the intraday trading suggestions here and not to forget the best bank nifty index option tips which are giving hefty profit daily courtesy Corona volatility.
The Indian rupee lost over half a percent last week against the US dollar. The domestic currency closed at 75.55 versus the preceding week’s close of 75.10.
India's foreign exchange reserves increased by USD 1.622 million to USD 481.078 billion in the week ending May 1, due to a rise in foreign currency assets.
The US economy lost 20.5 million jobs in April, the steepest plunge in payrolls since the Great Depression, and the starkest sign yet of how the novel coronavirus pandemic is battering the world's biggest economy.
Britain's central bank voted to maintain interest rates at 0.1% and continue its £200 billion corporate and government bond-buying program.
On the technical front, the overall structure for the USDINR pair remains bullish and the strategy for the week will be to buy around 75.60 marks, keeping a stop loss below 75.20 for the target of 76.10 marks.
We look forward to your experiencing the intraday trading suggestions here and not to forget the best bank nifty index option tips which are giving hefty profit daily courtesy Corona volatility.
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