Market Outlook

The rupee continued to bear the brunt of panic dollar demand and plunged by a whopping 27 paise to end at 65.72 a dollar, its lowest level in six-and- a-half months, amid concerns over foreign capital outflows. This is the lowest level for the home currency since March 14, when it had closed at 65.82 against the greenback.
The dollar consolidated gains after hitting a one-month high on Thursday against a basket of currencies as U.S. Treasury yields rose, prompting investors to unwind some of their dollar shorts.

Fundamental News

•    Brazil Inflation Index/IGP-M above expectations (0.46%) in September: Actual (0.47%).
•    Belgium Consumer Price Index (MoM) fell from previous 0.07% to -0.1% in September.
•    Austria Purchasing Manager Index down to 59.4 in September from previous 61.1

USDINR

USDINR pair was opened with gap up but drag down from its higher level due to profit booking and closed near to its days low.For upcoming session downward correction expected if sustain below 65.7000. It has 66.1500 as major resistance.

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EURINR

EURINR pair opened with good gain not able to hold its upper level and came down and settled the day with flat note.
Now, 77.3500 is important support zone below this mark selling can be seen. Northern side 77.7000 is resistance level. sustaining above which may leads it 78.3000 mark.

2

GBPINR

GBPINR pair showed correction in morning session but recovered from its lower level in second half and concludes the day in negative.If it able to manage above 88.5000 than good upside breakout expected and on lower levels 87.9000 is act as support for it.

3

JPYINR

JPYINR pair was pull down from its higher level and closed the session with weak sentiment.For coming session this pair sustains above 58.6000 than upward movements can be seen. 58.2000 is support level below this more negative movements were expected.

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