Market Outlook

The Indian rupee’s rally since mid-November could see a turning point with elections in Prime Minister Narendra Modi’s home state of Gujarat.
Yuan was flat against dollar on Today’s trade, as the local currency was hobbled by uncertainty over its outlook for next year and how Chinese growth and US rate increases will play out in the markets. Dollar index was off a touch at 93.533 as of midday from the previous close of 93.61.

Fundamental News

•    European Monetary Union Gross Domestic Product s.a. (QoQ) meets forecasts (0.6%) in 3Q.
•    Greece Unemployment Rate (MoM) declined to 20.5% in September from previous 20.6%.
•    Singapore Foreign Reserves (MoM) climbed from previous 276B to 279.6B in November.


USDINR pair moved under tight range throughout the day and closed near to its days high.It has 64.8000 as important resistance mark above this it may take more upside direction. Whereas 64.5000 is crucial support zone.



EURINR pair opened with gap down and continued its southward journey, settled the day with negative note.For upcoming session if it sustains below 76.1000 then it can further move towards deeper support level. 76.5000 is immediate resistance level.



GBPINR showed positive movements but unable to hold higher level, closed the day with flat note.  Now, 86.4000 is act as crucial support level below this correction may be expected towards 86.0000. On higher level 87.0000 is good resistance.



JPYINR pair drags down from its higher level and closed near to its days low.It has crucial support level of 57.3000 below this selling can be witness. 57.6000 is good resistance level above which it may shows positive movements.


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