The Indian rupee, which fell over the week after showing a net rise for six straight weeks, snapped a two-day fall to strengthen on Friday as a rise in local share prices raised expectations of more capital inflows.  The partially convertible rupee ended at 46.50/51 per dollar, off an intraday high of 46.40, and about 0.5 percent stronger than its close of 46.735/745 on Thursday, when it had dropped as low as 46.82, its lowest since Oct. 7.

Recommendation

Sell in the range of 46.80-46.90 stop loss above 47.10 Target 46.00-45.80

The dollar added to gains against the yen on Friday after a survey showed sales of existing U.S. homes last month to a two-year high, providing evidence the housing market is on the mend. The yen was already under pressure as the spread between 10-year U.S. and Japanese government bond yields widened on Friday, making U.S. bonds more appealing to Japanese investors.

Recommendation

Sell in the range of 92.10-92.20 stop loss above 92.50 Target 91.40-91.00

The euro slipped and benchmark euro zone government bonds rose on Friday after a snapshot of German business morale showed an increase in optimism but not quite as much as markets had expected. The euro slipped around 20 ticks to $1.5005 and The Ifo business climate index rose in October to 91.9 but economists had expected a reading of 92.0, and the market chatter shortly before the release was for an even higher number

Recommendation

Sell in the range of 1.5070-1.5080 stop loss above 1.5150 Target 1.4950-1.4910