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Market Outlook

Snapping a three-day winning streak, the rupee opens with nominal loss at 67.15 against the US dollar on Tuesday, tracking weakness across major Asian currency markets. The dollar index, which measures the movement of dollar against a basket of six major world currencies, stood at 96.33, down 0.24 per cent.

The safe-haven yen hit a more than two-week low against the dollar on Tuesday and fell 1 percent versus the euro, as a weekend election victory by Japan’s ruling coalition fanned expectations of more stimulus and bolstered risk sentiment.

Fundamental News

  • Yen weak post-Brexit gains as Japan stimulus package to be compiled by end-July.
  • Foreign investors new eurobonds preferance drag Sri Lankan rupee.
  • Japan stimulus hopes aid Dollar around 1-week high against yen.

USDINR

USDINR opened with nominal loss showed sideways movement closed with partial gain.

Still it is in looks weak may drag towards the near support of 67.1000. On higher side, it needs a closing above 67.4000 to gain strength.

USD

EURINR

EURINR opened gap up and sustained on higher levels for whole session.

Now, 74.5000 is act as immediate support for it below which again it may find support around trend line major support is 74.0000.

EUR

GBPINR

GBPINR opened gap up and showed strength in the second half of the session.

Now, immediate resistance is seen around 89.0000 above which it may test the level of 90.0000. On other hand 88.2500 is strong support for it.

GBP

JPYINR

JPYINR showed weak trading session found support around 64.7500.

Now, if it break this support then then may drag towards its major support level of 63.6500. Contrary 65.5000 is major resistance for it.

JPY

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