Market Outlook

The rupee showed signs of fatigue after a three-day stellar rally and ended almost flat at 64.92 against the US currency.
A renewed demand for the greenback from importers alongside the dollar’s gains against other currencies overseas predominantly put pressure on the rupee.
The dollar dipped against a basket of major currencies on Friday, after personal spending and consumer sentiment data was weaker than expected.

Fundamental News

•    Brazil Nominal Budget Balance dipped from previous 0.299B to -54.24B in February.
•    European Monetary Union CFTC EUR NC net positions increased to €-7.9K from previous €-19.662K.
•    United Kingdom CFTC GBP NC net positions: £-104.1K vs £-107.844K.


USDINR surpassed the important support level and closed around it.If it sustains below the support mark of 65.0000 then it may further drag down whereas 65.2000-65.3000 is seen as immediate resistance range.



EURINR continued the bearishness for the third consecutive session and closed on weak note.
Now, 69.6000 may continue to act as key support level holding below which can further drag the pair down while 70.0000 will act as crucial resistance.



GBPINR moved in the same range as of previous session and closed on a flat note.
On raising above 81.5000 can lead towards higher resistance marks while 80.8500 may continue to act as immediate key support.



JPYINR opened with a large gap down and closed below the previous close.
Now, the  pair is near to the crucial level of  58.0000 breaching which can result in fall and 58.5500 is seen as key resistance from current levels.


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