Market Outlook

The Indian Rupee apreciated by 12 paise to open at 70.0300 and throughout the day swing around in range of 70.1725 and 69.7675 against the US dollar amid weak crude oil prices and the dollar’s losses in global markets due to political uncertainty in the US.
On the flip side, dollar was down against major Asian peers due to heightened concerns over the partial US government shutdown and tensions between the White House and the Federal Reserve, as per media reports.

Fundamental News

  • United States 2-Year Note Auction dipped from previous 2.836% to 2.619%.
  • Mexico Jobless Rate registered at 3.3%, below expectations 3.4% in November.
  • Netherlands, The Gross Domestic Product s.a (QoQ) meets forecasts 0.2% in 3Q.

USDINR JAN found strong support on lower levels showed correction closed with partial loss.
If continue its positive movements in upcoming session then immediate resistance is seen above 70.5000 above which it may find next resistance near 70.7000.

EURINR JAN showed sideways movements after negative opening closed with loss.
80.0000 is still act as strong support zone for the currency pair sustaining above this mark it may give positive movements towards 80.7000.

GBPINR JAN opened with partial gain showed sideways movements closed with partial gain.
Now, 89.5000 is seen as resistance level for the currency pair, if breaks it then shows bullish movements and find next resistance around 89.8000.

JPYINR JAN after positive opening showed sideways movements throughout the session closed with gain.
Currency pair found resistance near psychological level of 64.0000, if trades below this mark then it may shows some correction towards 63.5000.

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