Market Outlook

The rupee opened nearly 2 paise higher at 67.82 against the dollar on Friday amid some selling of the American currency by banks and exporters. The US dollar continued to trade near to its 14-year high level against a basket of major currencies as markets repositioned for a faster pace of rate hikes by the US Federal Reserve over the next year. The local currency slipped 40 paise against the dollar on Thursday after the Fed rate hike the second time in a decade.

Fundamental News

  • China’s yuan steadies from 8-1/2-year lows, liquidity injection eases nerves.
  • Colombia Interest rate declined to 7.5% in December from previous 7.75%.
  • Japan CFTC JPY NC net positions dipped from previous ¥-34K to ¥-63KUSD/SEK exhibits a potential 52-week high.


USDINR showed sideways movement and closed with nominal loss.Sustaining above its support level suggest more positive movements and may find resistance around 68.1000. On lower side 67.6000 is act as support for it.



EURINR opened negative showed correction in second half but unable to sustain on upper levels.More bearish movement is expected up to 70.5000 as it gave closing around its support level on intraday charts. On other hands 71.3000 resistance for it.



GBPINR opened gap down and traded sideways in whole trading session.On daily charts, it looks weak as it had given breakouts of its immediate support and closed below it. For now 84.2000 will act as an immediate support while 84.8000 as a resistance.



JPYINR showed sideways movement in whole trading session.Currency trades in downward trend and still looks weak, may show more negative movement and find next support around 57.3000. On higher side 57.6000 is act as resistance.


(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published.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