Market Outlook

The rupee ended flat at 64.45 against the US currency in an otherwise quiet and range-bound trade amid weaker dollar sentiment overseas. Sustained capital inflows into the Indian markets backed by strong macro environment largely supported the home currency to stay afloat of late.
The dollar trod water against a group of peers early on Friday, as currency investors remained cautious ahead of US inflation data due later in the session, which is expected to set the greenback’s near-term direction.

Fundamental News

•    United Kingdom CFTC GBP NC net positions climbed from previous £-27.8K to £-24K.
•    Australia CFTC AUD NC net positions climbed from previous $32.4K to $37K.
•    European Monetary Union CFTC EUR NC net positions: €84K vs €77.5K.


USDINR hovered in the same range as of previous session and closed on a flat note.
Now, on daily chart, if it closes above 64.6000 then it may lead towards higher levels whereas 64.4000 is seen as immediate support.



EURINR sustained above the previous close and settled the session in green territory.
The currency pair is still finding support around 73.4500 while 74.0000 is seen as immediate resistance and closing above it can provide strength.



GBPINR gradually inched towards resistance zone and closed the session on positive note.
The pull back so shown may carry the pair towards the resistance mark of 84.0000 while 83.2000 may remain the important support for it.



JPYINR opened gap down but gained momentum in the later half of the session to close on flat to negative note.
Strength may continue till it maintains above the mark of 57.0000 and 57.3000 is seen as immediate resistance to it while 56.9000-56.7000 is seen as support range.


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