Market Outlook

The rupee opened on a cautious note and fell 2 paise to 69.4475 against the US dollar in early trade on Thursday amid a strengthening of the greenback vis-a-vis other currencies overseas, even as crude oil prices eased.Weak macro data, foreign fund outflows and a cautious opening in domestic equities added pressure to the domestic unit.On the domestic front, the Reserve Bank of India will infuse Rs 15,000 crore into the financial system through bond purchases on Thursday.

Fundamental News

  • Yen Gains Ground, Dollar Steady against Other Major Currencies.
  • Aussie Dollar falls on unemployment data.
  • Swiss National Bank leaves expansionary monetary policy unchanged and introduces SNB policy rate.
  • Industrial production down by 0.5% in euro area.
  • UK flower-growing industry in full bloom and worth £121m.

USDINR after opening on a flat note extended gains during the session and closed in green.

Now, it is near to the strict resistance of 69.7000 holding above which can further result in bulls whereas 69.3500 is still seen as important support.

EURINR opened with negative bias but showed correction during the session.

The currency pair may witness the resistance in the range of 78.7000-79.0000. On lower side, sell offs can be seen below the support of 78.5000.

GBPINR opened gap down for the session and showed sideways movement.

It strongly resisted near the higher levels and steep fall indicates the bear signal for the pair where 88.0000 will be seen as major support.

JPYINR showed sideways movements and was able to sustain near resistance levels.

Now, 64.3000 is seen as immediate resistance for the pair holding above which can further show up move whereas 64.0000 is still seen as strong support.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *