Market Outlook

The R♣upee was trading 11 paise up at 64.13 against dollar on Tuesday on account of selling of American currency by banks and exporters.
The dollar hit a one-month high against the yen on Tuesday, lifted by Treasury yields which surged after US Treasury Secretary Steven Munching commented on the possibility of ultra long-term bond issuance
The People’s Bank of China fixed its official yuan midpoint at 6.8956 per dollar prior to the market open on Tuesday.

Fundamental News

•    European Monetary Union Unemployment Rate above expectations (9.4%) in March: Actual (9.5%).
•    United Kingdom Markit Manufacturing PMI above expectations (54) in April: Actual (57.3).
•    Italy Unemployment registered at 11.7% above expectations (11.5%) in March.


USDINR moved in the same range as of previous session and remained on lower side.
On daily chart, it has been stuck into a range where 64.6000 is expected to continue as important resistance whereas 64.2000 as immediate support.



EURINR opened below the previous session’s close and maintained on lower levels.
Strength is expected till it holds above the important support level of 70.0000 while sustaining higher may find 70.8000 as immediate resistance.



GBPINR opened gap down and could not gain momentum during the session closing below the previous close.
It found strong support around the mark of 83.0000 and it will continue to remain the same whereas 83.7500 is seen as resistance ahead.



JPYINR dropped heavily since the start of the session and closed on weak note.
It closed around the key support of 57.4500 surpassing which will further result in bears whereas 57.8000-58.0000 is seen as resistance range.


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