Market Outlook

The rupee on Monday opened almost flat at 65.37 against dollar as compared with 65.38 on Friday. The local currency depreciated by 24 paise last week on sustained demand for the US dollar from importers and banks.
The dollar held steady against the yen on Monday, having retreated from 12-week highs set last week, due to renewed focus on geopolitical risks amid concerns that North Korea may be preparing another missile test.

Fundamental News

•    Singapore Foreign Reserves (MoM) increased to 275.4B in September from previous 273.1B.
•    European Monetary Union Sentix Investor Confidence came in at 29.7, above expectations (28.5) in October.
•    Fed’s Bullard: Won’t have enough data on inflation, economy, to consider a Dec rate increase.

USDINR

USDINR showed sideways movement for whole session closed around its resistance.Now, if currency pair is able to sustain above its immediate resistance than more positive movement were seen in it. On lower levels 65.3500 is support for it.

1

EURINR

EURINR opened the session with positive note and closed around its higher level.As currency closed above 77.0000 mark shows strength for more positive rally and 76.8000 is act as immediate support for it.

2

GBPINR

GBPINR showed sideways movement in first half but gain momentum in second half and closed with positive bias.
Now, 86.6000 is major resistance level above this it can give good short covering. 85.8000 is support level below this more correcition is expected.

3

JPYINR

JPYINR opened the session with positive bias showed sideways movement.Psychological level of 58.0000 is still act as major support if break in upcoming session than continue its bear rally on higher side 58.5000 is resistance for it.

4

(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Your email address will not be published.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 *