aaa

Market Outlook

The Rupee remained under pressure against the US dollar for the third-straight day today, depreciating 7 paise to end at a fresh 3-week low of 64.59 on steady demand of the US currency amid a global oil rout.
The dollar eased versus the yen on Thursday as a recent rally tied to bets on another US interest rate hike this year lost steam.
The kiwi rose after New Zealand’s central bank played down the recent rise in the currency, while it kept interest rates steady at record lows as analysts had widely expected.

Fundamental News

•    United States CFTC Gold NC net positions declined to $150.7K from previous $190.3K.
•    European Monetary Union CFTC EUR NC net positions: €44.9K vs previous €79.1K.
•    Mexico Retail Sales (MoM) rose from previous -1.3% to 1.2% in April.

USDINR

USDINR traded below the previous close and closed the session on weak note.
Any closing above 64.6500 can provide some strength to the currency pair whereas 64.4000 is seen as immediate support for it.

1

EURINR

EURINR had been moving in the same range since last four sessions and closed in red territory.
On daily chart, 71.9500 is still marked as important support for the counter whereas any closing above 72.2000 can lead to some correction on higher side.

2

GBPINR

GBPINR gained momentum in the previous session and closed on a strong note.
The currency pair is expected to move higher till it sustains above the mark of 82.0000 whereas 81.5000 will continue to act as major support for it.

3

JPYINR

JPYINR slipped below the previous close and sustained on lower levels.
If the currency pair sustains above the mark of 58.0000, then it may find immediate resistance near 58.3000 whereas 57.8000 may act as good support for it.

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Your email address will not be published.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 *