Market Outlook

The rupee gained 19 paise to 67.44 against the dollar in early trade on Thursday on sustained selling of the US currency by exporters and banks amid a higher opening in the domestic equity market amid foreign fund inflows.
The euro edged up and traded near a three-week high against the dollar on Thursday ahead of a European Central Bank policy decision, as the greenback lost momentum from the recent pull-back in US bond yields.

Fundamental News

•    EUR/JPY consolidating in a narrow band, awaits ECB    decision
•    USD/CHF flirting with weekly lows, ECB in focus
•    USD/CAD drops to 2-month lows near 1.3200
•    Czech Republic Unemployment Rate down to 4.9% in November from previous 5%


USDINR continues its bear rally for the third straight day and again closed on lower note.Now, in upcoming session accumulation is expected in particular currency. Contrary if break support on daily charts than it may find next support around 67.4000.



EURINR showed sideways to negative movement and closed on flat note.EURINR closed near to its support and expected to give more negative movement if able to break its support on daily charts i.e. 72.6500.



GBPINR saw pull back from its immediate trend line support and closed above it.Closing above trend line shows more correction. For now 86.1500 seen as immediate resistance and if correction occurs than 86.2000 is act an important support.



JPYINR shows sideways movement and closed on a flat note.
It still looks weak and may find next support around 59.0000. If shows some correction than 59.9000 is act as major resistance level for it.


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