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Market Outlook

The Rupee on Thursday opened 6 paise down at 64.34 against dollar on account of buying of the American currency by banks and importers.
The Australian dollar climbed to a two-year peak on Thursday after an upbeat jobs report fed chatter the central bank is creeping closer to a rate rise, while its New Zealand counterpart steadied near a five-month high. On Thursday, the Australia Bureau of Statistics (ABS) said the unemployment rate held steady at 5.6 per cent as 14,000 new jobs were added.

Fundamental News

•    United Kingdom Retail Sales (MoM) came in at 0.6%, above forecasts (0.4%) in June.
•    European Monetary Union Current Account s.a came in at €30.1B, above forecasts (€23.3B) in May.
•    Denmark Consumer Confidence climbed from previous 7.1 to 10.5 in July.

USDINR

USDINR rallied throughout the session and maintained above the previous close.
Moving northwards, the currency pair may find strict resistance near 64.6000 whereas 64.3500 might continue to act as key support.

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EURINR

EURINR tapered during the session and closed in red territory.
It has been observed that the counter faced resistance around higher levels of 74.5000 and further weakening may find 74.0000 as immediate support.

2

GBPINR

GBPINR breached the key support on daily chart and closed the session on weak note.
Further falling may find support around 83.2500 in the coming session. Any correction on higher side may find resistance near 83.8000.

3

JPYINR

JPYINR hovered in the same range as of last two sessions and closed on a flat note.
On daily chart, 57.5500 had become the key resistance surpassing which may lead it towards higher levels whereas 57.3000 may act as near support.

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