Market Outlook

Snapping its two-day winning run, the rupee today took a hefty knock by plunging 23 paise to close at 65.05 a dollar amid fresh demand for the US currency from importers coupled with sluggishness in equities.
The euro fell on Friday, marking its biggest weekly loss of the year a day after the European Central Bank decided to prolong its bond purchases and signaled its willingness to stick with an ultra-loose policy stance. The euro was down 0.5 percent at $1.1595, bringing its weekly loss against the dollar to 1.6 percent for the biggest in 11 months.

Fundamental News

•    European Monetary Union CFTC EUR NC net positions dipped from previous €90.5K to €83.5K.
•    United States CFTC USD NC net positions: $127.1K vs previous $161.9K.
•    Colombia Interest rate came in at 5% below forecasts (5.25%) in October.

USDINR

USDINR pair opened with strongly positive note and managed its upper level, settled the day with good gain.
For upcoming week if it holds above 65.5000 resistance level then it can continue upside movement. 65.1500 is crucial support level.

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EURINR

EURINR pair has given steep fall and closed the day near to its days low.It has 75.8500 as immediate support level below this more selling can be seen. 76.1500 is major resistance level.

2

GBPINR

GBPINR pair started the day with gap down and continued this downward movement, closed the day with negative note.Now 85.4000 is support level below this it can drag down towards deeper support level. 85.9000 is resistance level.

3

JPYINR

JPYINR pair showed some recovery from its support level settled the day with positive note.57.0000 is psychological support level below this correction might be seen. 57.5000 is important resistance level.

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