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Market Outlook

The rupee on Tuesday opened 3 paise down at 64.16 against dollar on account of buying of American currency by banks and importers.

The dollar hovered near an eight-week high against the yen on Tuesday, supported as US Treasury yields continued their sharp rebound from 10-month lows. The dollar stood little changed at 111.455 yen after climbing to 111.665 overnight, its highest since July 27.

Fundamental News

  • European Monetary Union Construction Output s.a (MoM) increased to 0.2% in July from previous -0.5%.
  • Germany ZEW Survey – Current Situation above expectations (86.6) in September: Actual (87.9).
  • Australia House Price Index (QoQ) dipped from previous 2.2% to 1.9%.

USDINR moved with positive momentum throughout the session and closed on strong note.The currency pair needs to sustain above 64.4200 to continue the up move whereas 64.2500 is seen as immediate support for it.

usdir

EURINR continued the pull back so seen in the last two consecutive sessions.Now, 77.5000 is seen as important resistance sustaining above which can further lead it to higher levels whereas 76.5000 is seen as support.

Eunir

GBPINR traded in the same range as of previous session and was able to sustain on higher side.The currency pair needs to sustain above 87.4000 to continue the up move while any correction on lower side will find immediate key support at 86.2000.

Gbpr

JPYINR opened on a weak note but gained some momentum in the later part of the session.On higher side, resistance is seen in the range of 57.9000-58.0000 whereas 57.2500 is seen as key support for the currency pair.

Jpnir

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