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Market Outlook

The Rupee was opened at 64.99 down by 5 paisa against the Dollar on account of fresh demand for the greenback from banks and importers. The Dollar’s weakness against select currencies on continual worries of trade war limited the Rupee’s fall. The dollar index is down by 12% in last 12 months as the greenback versus a basket of currencies. But today Dollar slightly gained against basket of currencies.

Fundamental News

  • Business Inventories of United States above expectations (0.4%) in January: Actual (0.6%).
  • Foreign Trade of Russia came in at $16.991B, above forecasts ($14.45B) in January.
  • Retail Sales control group below expectations (0.4%) of United States in February: Actual (0.1%).

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USDINR

USDINR after correction found support on lower levels closed with flat note. For upcoming session if sustain above psychological level of 65.0000 then positive movements were expected in it. Downward side 64.8000 is crucial support.

1

EURINR

EURINR unable to sustain on higher levels drags down and closed with loss. On lower levels 80.2000 is act as strong support zone for currency pair below this more correction is expected in it. 80.5000 is resistance level for it.

2

GBPINR

GBPINR showed negative movements throughout the session closed with negative note. Currency trading around its support mark if sustain above this then continue bullish rally towards its next resistance, whereas 90.2000 is vital support level.

3

JPYINR

JPYINR after gap up opening showed sideways movements closed with gain. Maintaning above 61.5000 may result in more bullish movements in it upto resistance mark of 61.7000. On lower levels 61.1000 is act as support.

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