oie_TpDnhShIXLEH

Market Outlook

The Rupee recovered by 16 paise against the US dollar on Friday at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters. Increased foreign fund inflows also supported the rupee, but a lower opening in the domestic equity market and the dollar’s strength against some currencies overseas capped the gains.

The Euro dropped to a two-month low against the safe-haven Swiss franc and lost ground broadly on Friday, as concerns about the health of Deutsche Bank weighed on the single currency and undermined risk appetite across global markets.

Fundamental News

  • Euro hits two-month low vs Swiss franc on Deutsche Bank jitters.
  • Swiss franc near 1-month high vs dollar as risk sentiment sours.
  • Euro area annual inflation up to 0.4%.
  • French Household consumption expenditure on goods bounced back in August 2016 (+0.7 %).

USDINR

USDINR corrected on lower side during the session on back of weakness in American currency overseas.

It again dropped down from 67.0000 mark and now may again dip towards the immediate support of 66.7000. If it raises then 67.1000 is seen as strict resistance.

usd

EURINR

EURINR dragged gradually during the entire session and erased all the gains so made in the last session.

The currency pair is again near to the key support of 74.6500 and any major downfall will breach this level to further move southwards. Resistance is seen near 75.1000.

eur

GBPINR

GBPINR is unable to hold at higher levels and showed sharp down fall in the beginning of the session and closed in red.

On daily charts, the counter violated the important resistance of 87.7000 and strong sell offs were seen from there. Now, it may again move towards the major support of 86.1000.

gbp

JPYINR

JPYINR managed to move upwards in the later half of the session and closed on flat note.

On daily charts, it has been moving in specific range where 66.7000 is seen as major resistance whereas 65.7000 is strong support for the pair.

jpf

(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Your email address will not be published.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 *