Market Outlook

The Rupee opened at 65.2475 up by 11 paisa, made a high of 65.1450 in early trade and Rupee howering in the range of 15 paisa between 65.2975 to 65.1450 during trading hours against dollar due to weakening of dollar against other currencies overseas supported the rupee. The dollar weakened against other global currencies as China imposed extra tariffs on US products, escalating a dispute between two of the world’s biggest economies.

Fundamental News

  • Unemployment Rate of Portugal increased to 8.1% from previous 7.9%.
  • Unemployment Rate Austria down to 8% in March from previous 9%.
  • SAR Retail Sales of Hong Kong increased to 29.8% in February from previous 4.1%.
  • Markit Manufacturing PMI of Italy registered at 55.1, below expectations (55.4) in March.

USDINR

USDINR opened with partial loss continued bearish rally and closed with negative bias. Currency pair closed below its support and if continue bearish movements then 65.0000 is act as immediate support. Higher level 65.5000 is major resistance.

EURINR

EURINR opened the session with negative bias and closed around its day low. Now, psychological level of 80.0000 is major support zone for the currency if sustain below it then more negative movements were expected in it.

GBPINR

GBPINR showed sharp correction from its higher levels and closed with weak note. 91.5000 is act as strong support if able to maintain above this support then it may continue bullish movements and find resistance near 92.0000.

JPYINR

JPYINR continue its bearish movements and closed below its support mark. Currency pair closed below its immediate support level now next support is seen around 61.0000. On upward side 61.7000 is vital resistance.

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