Market Outlook
The Indian Rupee depricated by 26 paise to open at 69.1125 and recovered slightly after falling to a life time high of 69.3350 against the US dollar. The major reason behind this is increasing prices of crude oil which deepend concerns about the country’s CAD and inflation dynamics. On the flip side, dollar was trading nearly 11-month highs against basket of currencies, but gains were held in check as uncertainty over U.S. trade policy limit the gains.

Fundamental News
• Sweden Trade Balance (MoM) climbed from previous -6.5B to -2.6B in May.
• Spain Retail Sales (YoY) down to -0.3% in May from previous 0.5%.
• Germany Gfk Consumer Confidence Survey above forecasts (10.6) in July: Actual (10.7).

USDINR showed correction in last trading hours closed with gain.
Form reversal pattern on the top of the rally suggest some correction in upcoming sessions towards 68.6000 levels. On higher side 69.3000 is major resistance for it.

EURINR showed sideways movements found strong support closed with partial loss.
Currency pair form strong consolidation around its resistance if sustain above it than positive movements seen in it towards 80.4000.

GBPINR showed correction closed near to its support with negative bias.
Sustaining above its support level may show positive movements in currency towards its immediate resistance level of 91.0000 above which it is more bullish.
JPYINR showed sideways to positive movements closed with flat note.

JPYINR showed sideways to positive movements closed with flat note.
Correction can be seen in currency if sustain below its support zone and may find next support around 62.5000. On higher levels 63.0000 is act as resistance.

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