Market Outlook

The rupee today clawed back its lost territory to recover from its near-six-month low and ended a marginal 2 paise higher at 64.79 per dollar.
The dollar buckled against the yen on Friday as tensions simmered on the Korean peninsula, though the sharp divergence between US and Japanese monetary policy kept the greenback on track for a winning week against the yen. North Korea said on Friday it might test a hydrogen bomb over the Pacific Ocean after US President said he would destroy the country if it threatened the United States or its allies.

Fundamental News

•    United States Markit Services PMI registered at 55.1, below expectations (55.9) in September.
•    Canada Consumer Price Index (YoY) below forecasts (1.5%) in August: Actual (1.4%).
•    India FX Reserves, USD rose from previous $400.73B to $402.51B.

USDINR

USDINR opened on higher note but could not sustain at such levels and gradually dragged during the session.
In the coming session, if the currency pair lies below 64.7500 then correction on lower side may happen whereas 65.0000-65.3000 is seen as resistance range.

1

EURINR

EURINR opened on higher note and closed on higher levels on daily chart.
If the currency pair holds above the mark of 78.0000 then buying momentum may continue whereas 77.0000 will now act as key support for it.

2

GBPINR

GBPINR surpassed the key resistance on daily chart and closed above it.
If the currency pair holds above the mark of 88.0000 then it may further move towards 88.5000 whereas 87.6000 is seen as immediate support.

3

JPYINR

JPYINR opened on higher levels but gradually dragged during the session.
On daily chart, 58.0000 is seen as important resistance sustaining above which can lead it northwards while 57.6000 is seen as immediate support for  it.

4

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *