Market Outlook

The rupee on Thursday opened 8 paise down at 65.09 against the US dollar on account of buying of American currency by banks and importers.
The dollar inched up against a basket of peers on Thursday after data shed more positive light on the US economy, although sagging Treasury yields tempered the greenback’s gains. The gains, however, were kept in check with Treasury yields having pulled back from three-month peaks.

Fundamental News

•    Australia: Retail sales contract 0.6% in August – Westpac.
•    US: Growth acceleration intact in 2017 despite hurricane disruptions – HSBC.
•    Fed Chair candidate Powell to speak on US Treasury Markets – ING.

USDINR

USDINR pair opened with positive not and showed its strength throughout the day and settled near to its resistance level.For upcoming session 65.7000 is resistance level above this upside movement can seen. 65.1000 is  crucial support marks.

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EURINR

EURINR pair opened with gap down but not sustains it and bounceback from its lower marks and closed the days with positive note.If it manages above 77.0000 levels then upward movement towards next resistance can be seen. 76.5000 is support level.

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GBPINR

GBPINR pair continuously followed its down trend and concludes the day near with negative gain. Now 86.0000 is major resistance level above this it can give good short covering. 85.5000 is crucial support level below this more correcition is expected.

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JPYINR

JPYINR pair recover it price form its lower level and continuously moved towards its northern side and settled the day with gain.58.2500 as a major resistance level above this it can give upside movement where as 57.9000 is support level.

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