Market Outlook

The Rupee opened at 65.8700 down by 18 paisa but couldn’t sustain there and recover in early trade and hovering between 65.7500 and 65.6300 in today’s trading hour against the dollar amid persistent capital outflows and a fresh ripple of geopolitical tension. Dollar gained from a three-week low after trade war concerns waned and firm U.S. economic data boosted the greenback against the yen and ushered in renewed risk appetite.

Fundamental News

  • Current Account Balance OF Portugal declined to €-0.766B in February from previous €-0.552B.
  • Retail Sales (YoY) OF South Africa came in at 4.9%, above forecasts (2.8%) in February.
  • United Kingdom Retail Price Index (YoY) came in at 3.3% below forecasts (3.6%) in March

USDINR

USDINR unable to sustain on higher levels closed with partial loss. If continue negative movements then more correction is expected in it towards 65.5000 level, whereas 65.8000 is still act as resistance zone.

EURINR

EURINR showed some correction but able to closed in positive territory. On hgher levels 81.6000 is major resistance level for the currency if sustain below it then it may give more correction and find support near 80.8000.

GBPINR

GBPINR gave sharp downward movements and closed around its support. For upcoming session if sustain below 93.2000 mark then more bearish movements were expected in it and may drag towards 92.8000.

JPYINR

JPYINR open with negative bias showed sideways movements and closed with loss. On downward side it has strong support of 61.0000 if sustain above it then continue bullish rally and may find next resistance around 61.5000.

Click to submit your details) Just one step to get best trading tips and Recommendatio

Leave a Reply

Your email address will not be published. Required fields are marked *