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Market Outlook

The Rupee opened 3 paise down at 66.74 against dollar on account of buying of American currency by banks and importers ahead of a speech by the US President Donald Trump later in the day for more clarity on his economic policy.
Asian currencies were little changed against the dollar on Tuesday, holding below recent highs, as investors awaited US President Donald Trump’s speech to Congress for clues on tax reform and infrastructure spending.

Fundamental News

•    Asian currencies drift below recent highs, focus on Trump speech.
•    Swiss KOF Economic Barometer Rises Markedly.
•    French GDP increased by 0.4% in Q4 2016 and by 1.1% over the year.
•    Italy Consumer Price Index (MoM) remains unchanged at 0.3% in February.


USDINR was unable to sustain at higher levels and closed the session on a flat to negative note.It has been moving in a tight range since last few sessions as seen on daily chart where 66.8500 is acting as important support whereas 67.3000 as strict resistance.



EURINR hovered in the same range as of previous session and closed in green.On lower side, sustaining below 70.7500 can be a weak sign for the currency pair whereas strength can be seen above the resistance of 71.1500.



GBPINR showed less volatile movements during the session closing on a flat note.Immediate resistance so seen ahead is of 83.5000 holding above which can further result in its up move whereas 83.0000 will act as strong support.



JPYINR traded above the key resistance on daily chart and finally settled on a flat note. Strength may continue till it sustains above the key resistance of 50.6000 above which it may move towards the resistance range of 59.8000-60.0000.


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