Market Outlook

Rupee today rose by another 22 paise to 65.28 a dollar on sustained unwinding of American currency by exporters. Rupee came under tremendous pressure of late and hit month lows. The home currency plunged to a fresh 6-1/2 month closing low of 65.72 on Wednesday.
The dollar inched higher against a basket of major currencies on Friday, having pulled back from one-month highs set this week as investors pondered the Trump administration’s tax plan and the outlook for Federal Reserve policy.

Fundamental News

•    China Non-manufacturing PMI rose from previous 53.4 to 55.4 in September.
•    European Monetary Union CFTC EUR NC net positions increased to €88.2K from previous €62.8K.
•    United Kingdom CFTC GBP NC net positions: £5.1K vs £-10.2K.

USDINR

USDINR continued the corrective trend of last session and closed in red territory.
Now, the mark of 65.0000 will be seen as important key support sustaining below which drag it to lower levels while 66.0000 may continue to act as resistance.

1

EURINR

EURINR opened on lower note and was unable to show any volatility for the whole session.
On higher side, 77.8000 is seen as important resistance whereas 77.0000 might continue to act as crucial support for the currency pair.

2

GBPINR

GBPINR opened on lower note and continued to drag gradually during the session.
If the currency pair surpasses the immediate support of 87.6000 then it may further drag to deeper supports whereas 88.0000-88.2000 is seen as resistance range.

3

JPYINR

JPYINR opened on weak note and sustained on lower levels for the whole session to close weak.
On lower side, 58.1000-58.0000 is seen as support range for the counter whereas sustaining above 58.5000 can provide it further strength.

4

(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Your email address will not be published.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 *