Market Outlook

Rupee appreciated against the greenback on Monday in the early trade despite of mixed trading in Asian currency markets. Payrolls data so released on Friday by US was less than expected and it reduced the hopes for Fed rate hike in June. Asian currencies such as won, rupiah and yuan declined, while ringgit advanced in morning trade.

China came up with their weak trade data of April as its exports registered a modest increase in April after surging the most in a year in March, signaling that overseas demand continues for products from the world’s largest exporter.

Fundamental News

  • Yen hits 10-day low on intervention warning.
  • Won leads Asia FX losses on expectations of Korean rate cut.
  • Dollar firmer vs yen, Aussie unfazed by weak China trade data.
  • UK Annual house price growth eases to 9.2%.
  • Swiss Consumer prices increase by 0.3% in April 2016.
  • Japan consumer confidence index April 40.8 vs 40.7 exp.






USDINR traded on lower levels for most part of the session but gained momentum in the last trading hour to close on flat note.

The pair has been strictly found in tight range since many sessions where 67.0000 is resisting it while 66.5000 has been acting as good support.



EURINR opened the session on lower note and sustained at lower levels for the entire session closing it on weak note.

On daily charts, 75.9000 has acted as strong support for the counter while lower lows suggests a short pull back if it sustains above 76.0000 mark. On lower side, 76.5000 is seen as major support from current levels.



GBPINR opened on weak note but covered some losses during the session and recovery let it to close on less weakened note.

If it falls below 96.2000 during the coming session then weak sentiments can again drag it below 96.0000 mark while 96.6000-97.0000 is seen as resistance range.



JPYINR lost its shine which it gained in past few sessions and closed weak losing more than 1%.

On daily charts, it closed below the strong and crucial support of 61.8400 which is indicated as a weak sign for the pair as sustaining below this level can drag it towards near support of 61.3000 while immediate resistance is 62.0000.


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