Rupee
Dollar futures traded in a range bound manner on Friday as market awaited some key economic data to be released in United Sates. Near month futures opened the day at Rs.46.90/USD, 16 paisa down from previous close of Rs.47.06/USD and closed the day just 4 paisa down at Rs. 46.86/USD. Nifty traded in green with the index closing 30 points up at 4796 points.Unemployment rate of U.S came higher than expected raising serious concerns for the government as well as the Federal Reserve. The unemployment Rate jumped to 10.2%, the highest level since 1983 against 9.8% in September. Non Farm Payrolls fell by 1,90,00 against prior expectation of 1,75,000. Although dollar index remained un‐affected after the release of this data, American bond yields fell on anticipation that Federal Reserve will continue with its regime of lower interest rates for an extended period of time. In domestic news Prime Minister Manmohan Singh stated that India will “wind” down fiscal stimulus from 2010 as economy showed signals of recovery. For intraday we expect a flat opening of USDINR, however 46.65 will be acting as crucial support for the pair.
Pivot Support 1 Support 2 Resistance 1 Resistance 2
Spot 46.8133 46.7367 46.6583 46.8917 46.9683
Nov. Future 46.8542 46.7758 46.6917 46.9383 47.0167
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