Market Outlook

The Rupee on Tuesday weakened for the third session and opened 5 paise down at 64.05 against dollar on account of buying of American currency by banks and importers.
Most Asian currencies edged up on Tuesday as a bit of appetite for risk returned one day after trading volumes were slashed by North Korea’s most powerful bomb test. South Korean won edged up slightly against the dollar after falling to a near two-week low on Monday, the day after North Korea tested advanced hydrogen bomb.

Fundamental News

•    Most Asia currencies tick up on eased N.Korea fears; yuan slips.
•    UK Service sector growth slips to 11-month low.
•    German Growth of services output picks up in August.
•    Italian Service sector growth remains strong despite easing in August.
•    French service sector continues to enjoy a strong 2017.

USDINR

USDINR traded in specific range for the entire session and closed on a flat note.
The currency pair is again facing stiff resistance in the range of 64.4000-64.5000 and the mark of 64.0000 is still seen as important support for it.

1

EURINR

EURINR did not show any volatile movements but found support at lower levels.
The pair needs a closing above the immediate resistance of 76.6500 to continue the strength whereas 76.1500 is seen as key support from current levels.

2

GBPINR

GBPINR consolidated in the first half of the session but gained momentum in the later half.
The counter is near to its resistance of 83.4000 holding above which can result in a positive breakout from current levels whereas 83.0000 is seen as crucial support mark.

3

JPYINR

JPYINR opened gap up and sustained at higher levels for the whole session.
Now, 59.0000 is seen as the key psychological mark holding above which can further activate bulls whereas 58.5000 is seen as key support from current levels.

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