The week saw consolidation across the board with all equity markets rebounding from the selling momentum of last week. The Sensex rebounded around 700 points. Similarly all major indices have risen defying the fact that unemployment still is a concern for the US. The Euro broke the 1.5000 mark during the week and currently trades at 1.49. The forecast for the pair still remains bullish with more buying expected during the week adding to more bearish sentiments to the USD.

Exchange Rates

Major pairs 06/11/2009 14/11/2009

EUR USD

1.4879

1.4903

GBP USD

1.6607

1.6676

USD JPY

90.64

89.29

USDINR

46.80

46.34

GBPINR

46.80

46.34

100JPY/INR

52.07

51.57

EURINR

69.49

68.87

 

 

 

 

Key International Indices and Commodities

Index

06-11-2009

14-11-2009
DowJones

10023.42

10270.47
NASDAQ

2112.44

2167.88
SENSEX

16158.28

16848.83
NIFTY

4796.15

4998.91
FTSE

5142.72

5296.38
NIKKEI

9789.35

9770.31
GOLD

1092

1116.70
OIL

78.51

76.35

USD/INR Weekly outlook

The USD INR broke the 46.77 support level during the week and was bearish for major part of the week. Every uptick continues to add more shorts to the market and upside remains far off at 46.77 levels. Upside can only be confirmed if it breaks above these levels. More downside would be confirmed if break above 46.35 levels is confirmed.

USD/INR Weekly outlook

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