Market Outlook
The Rupee strengthen by over 8 paisa and opened at 67.8050 and hovered in the range of 67.8800 and 67.6425 against Dollar in an early trade on increased dollar selling by banks and exporters amid the greenback’s weakness against some currencies overseas. However, North geopolitical tensions have revived buying US dollar, putting pressure on emerging market currencies including the Indian rupee. The dollar was holding steady near five month highs against a currency basket supported by rising U.S. government bond yields.

Fundamental News
• Italy Global Trade Balance above expectations (€3.74B) in March: Actual (€4.531B)Italy Global Trade Balance above expectations (€3.74B) in March: Actual (€4.531B)
• China FDI – Foreign Direct Investment (YTD) (YoY) down to 0.1% in April from previous 0.5%
• Australia Unemployment Rate s.a. came in at 5.6%, above expectations (5.5%) in April

                USDINR USDINR

USDINR showed sideways movements after negative opening closed with partial loss.
Sustaining below its resistance level of 68.0000 suggesting more correction in particular currency pair and may find next support near 67.5000.

EURINREURINR unable to sustain above its support level closed with loss.
If able to sustain below its psychological resistance level of 80.0000 than it may drag towards support zone of 79.5000. On higher levels 80.3000 is resistance for it.

GBPINRGBPINR showed correction in last trading hours and closed with negative bias.
Opening below its support may drag it towards 91.0000 level below which it may continue bearish movements. On upward side 91.8000 is act as resistance.


JPYINR opened with negative bias continue bearish movements closed with loss.
61.2000 is immediate support mark for the currency if able to sustain below this mark than it may find next support around 60.7000.

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