Market Outlook

The Rupee opened 5 paise up at 64.38 against dollar on Friday on account of selling of American currency by banks and exporters.
Most Asian currencies edged higher on Thursday after comments from European Central Bank chief Mario Draghi pushed the euro up against the dollar with regional foreign exchange following.
China’s Yuan eased against the US dollar on Friday despite the central bank’s strongest midpoint guidance fixing since October and further weakness in the greenback.

Fundamental News

•    United Kingdom Public Sector Net Borrowing came in at £6.278B, above expectations (£4.3B) in June.
•    Japan Foreign bond investment increased to ¥947.8B in July 10 from previous ¥839.5B.
•    New Zealand Visitor Arrivals (YoY) climbed from previous 8% to 17.3% in June.


USDINR traded on a weak note and closed again in red zone on daily chart.
It is near to the key support of 64.3000 surpassing which can further drag it on lower levels whereas 64.5000 is still seen as key resistance.



EURINR opened on high note and gradually carried the positive momentum on higher levels.
Now, if the currency pair holds above the mark of 75.0000 then it may further move northwards whereas 74.5000 is seen as immediate support.



GBPINR found support at lower levels and gradually moved towards immediate resistance levels.
Now, on daily chart, the pair seems to be sideways such that 84.0000 marks as its key resistance whereas 83.4500 as key support on lower levels.



JPYINR carried the momentum towards the next resistance levels in the previous session.
Now, the counter is expected to face the psychological mark near 58.0000 whereas any closing below the support of 57.3000 might weaken the pair.


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