Market Outlook

The Rupee opened nearly 15 paise higher at 67.90 against dollar on Thursday on account of selling of American currency by bank and exporters.The dollar stepped further away from a 14-year peak against a basket of major currencies on Thursday as market players were spooked by sharp falls in the dollar against the Chinese yuan.
China’s onshore yuan and its offshore counterpart rose sharply in early afternoon trade on Thursday.

Fundamental News

•    Czech Republic Construction output (YoY) increased to -2.3% in November from previous -8.5%.
•    Colombia Consumer Price Index (MoM) climbed from previous 0.11% to 0.42% in December.
•    CAD: Setting up for employment (December) and international trade (November) – TDS.


USDINR opened on a lower note and found a pull back towards higher side to close on a flat note.Strength can be observed in the currency pair till it sustains above the mark of 68.0000 whereas 68.5000 is still seen as important resistance for it.


EURINR continuously rose for three consecutive sessions and closed on a strong note.It surpassed the resistance of 72.1500 and closed around it. If it is able to sustain above it then it may trade towards the next resistance of 72.6500.


GBPINR jumped towards the immediate resistance level on daily chart and closed higher.
The currency pair closed around the important resistance of 84.3500 and up move may continue till it sustains above it whereas 84.0000-83.8000 is seen as near support range.


JPYINR continued the bulls for the third consecutive session and closed on higher note.Now, on daily chart, 59.0000 is seen as crucial level for it above which can lead the counter higher while 58.4000 is seen as good support.


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