Market Outlook

The rupee lost value to the dollar while sovereign bonds gained significantly today in the early morning trades that have seen sharp swings amid uncertainties emanating US presidential elections and the local government’s move to curb black money in the economy.
Thereafter, USD traded well on the defensive after Republican Donald Trump has become the 45th US President today, defeating H.Clinton. After briefly bottoming out in sub-96.00 levels, the greenback – tracked by the US Dollar Index – has managed to retake 97.00 and above.

Fundamental News

•    Dollar tumbles to 1-month lows on Trump presidency perspective.
•    Mexico peso sinks to life lows as Trump wins U.S. presidency in upset.
•    United Kingdom Total Trade Balance declined to £-5.221B in September from previous £-4.733B.


USDINR showed volatile movements on back of US Presidential Election results and finally settled weak.In early trades, the pair was strong surpassing 67.0000 mark but fell thereafter to support after outcome of final results of US Elections. Now, 66.4000 is seen as immediate support.



EURINR opened high above the previous close but weakened Euro took the pair down.Closing on daily chart indicates that selling pressure may continue if the counter holds below 73.5000 while 74.3500-74.6000 will act as strong resistance.



GBPINR again faced resistance on higher side and fell thereafter to close on weak note.Now, according to daily chart, 82.3000 is seen as key support below which selling pressure may increase. However, 84.1000 will now act as strict resistance.



JPYINR opened on high note but slipped during the session; still closed with strength as compared to previous closed.  On daily chart, if it maintains below 100 day EMA of 64.3800 then sell offs may continue whereas 65.0000-65.3000 is seen as resistance range.


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