Market Outlook

The Rupee today retreated from its three-week high by losing 12 paise against the US dollar to end at 64.02 after the latest GDP numbers showed the country’s growth slowed to a three-year low.
The dollar stayed off this week’s lows in cautio trading on Friday as investors awaited key monthly US employment data after other tepid economic data cast doubts on whether the Federal Reserve will raise interest rates again this year .

Fundamental News

•    United States CFTC Gold NC net positions up to $231K from previous $208.4K.
•    European Monetary Union CFTC EUR NC net positions declined to €86.5K from previous €88K.
•    Japan CFTC JPY NC net positions rose from previous ¥-74.1K to ¥-68.5K..


USDINR moved in the same range as of previous few sessions but with positive bias.
On daily chart, mark of 64.0000 is still seen as important support whereas it needs a closing above 64.3000 to gain on higher side.



EURINR opened gap up and sustained on higher levels to close on a strong note.
The currency pair is able to sustain at higher levels indicating it may further rise towards the crucial mark of 77.0000 whereas 75.9000 may act as key support.



GBPINR opened with strength and maintaining on higher levels supported bulls.
Strength can be witnessed in the counter till it sustains above the mark of 83.0000 whereas 82.4500 may continue to act as key support for it.



JPYINR recovered a bit from the two day consecutive fall and settled in green.
The currency pair seems to be indecisive of its specific direction and 58.5000 is seen as immediate resistance for it while 58.0000 as important support.


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