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Market Outlook

Rupee fell 10 paise to 66.68 against the US dollar in early trade on Tuesday, following a rally in the greenback overnight amid speculation over a Fed rate hike.

Yen underperformed in overnight trade as Japan’s benchmark Nikkei 225 stock index advanced. The risk-on mood bolstered the sentiment-sensitive Australian Dollar, which tracked upward alongside share prices. The Philippine peso is set for its biggest gain in six weeks on Tuesday, as results of the country’s presidential election roll in and investors start unwinding bearish bets on the currency.

Fundamental News

  • Yen dips near 2-week lows after Japan’s verbal warnings.
  • Philippine peso to see best day in 6 weeks after election; Asia FX down.
  • South Korea won slips to near 2-mth low on global economic gloom, stocks up.
  • German exports in March 2016: –0.5% on March 2015.

cur1

USD1

cur2

USDINR

USDINR traded on higher note as Rupee depreciated against the American currency in start of the trade and finally ended the session on positive note.

On daily charts, 67.0000 is strictly acting as stiff resistance for the pair where 100 day EMA is also seen while intraday support is seen near 66.7000.

cur2

EURINR

EURINR moved in zigzag manner during the intraday session but managed to close above the previous day closing.

On intraday charts, it strongly took support of 76.0000 mark and strength can be seen till it holds above this mark while any closing below 75.9000 can be a weak signal for the counter.

Eur

GBPINR

GBPINR climbed during the first half of the session and was also able to close in green.

On daily charts, if it is able to sustain above 96.7000 then it may move towards the next resistance mark of 97.0000. However, if it falls below 96.3000 then it can be a weak signal for the pair.

GBP

JPYINR

JPYINR dragged for the second consecutive session and closed down losing around 0.64%.

If it continues to remain on lower side then 60.9000 is seen as strong support while it needs a closing above 61.6000 then some up move can be seen in it.

jpy

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