Market Outlook

The rupee appreciated by 21 paise to 69.5550 against the US dollar in opening trade, driven by a weakening of the greenback and a positive opening in domestic equities. On the other hand, rising crude oil prices restricted the rupee’s up-move. On the flip side, the dollar steadied above a recent two-and-a-half-month low on Tuesday as investors focused on a Group of 20 summit later this month where Beijing and Washington might make some progress on trade talks.

Fundamental News

  • Yuan Rises; Strong Daily Fix, Chinese Government Support in Focus.
  • AUDUSD Rebound Fizzles as Trump Fires Warning Shots on China Tariff.
  • China’s internet censor shuts financial news aggregator wallstreetcn.com amid worsening US relations over trade and tech.
  •  BOE can cut rates close to zero, would not go to negative rates.

USDINR after negative opening showed sideways to bearish movements closed with negative bias.

If able to sustain on lower levels currency pair may shows more negative movements and find support around 69.0000 levels.

EURINR opened with negative bias showed sideways movements closed with loss.

79.0000 is act as strong resistance zone on higher levels if sustain below this mark it may drag towards support of 78.3000.

GBPINR showed correction from lower levels and closed with partial loss.

Now, 88.7000 is seen as strong resistance zone for the currency pair breakout above this mark it may give positive movements.

JPYINR showed bearish movements after negative opening closed with negative note.

Sustaining below 64.0000 mark in upcoming session currency pair shows more bearish movements towards 63.5000.

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