Market Outlook

The rupee on Monday opened on a flat note at 64.80 against dollar against the previous close of 64.79 a dollar.
The euro slipped in early Asian trading on Monday after Germany’s election showed surging support for a far-right party that left Chancellor Angela Merkel scrambling to form a governing coalition. The euro was trading down 0.3 per cent at $1.1922 and could test support around $1.1860 as liquidity picked up through the session.

Fundamental News

•    Austria Gross Domestic Product (QoQ) remains unchanged at 0.8% in 2Q.
•    Germany IFO – Current Assessment came in at 123.6, below expectations (124.8) in September.
•    Austria Industrial Production (YoY) up to 5.7% in July from previous 4.5%.

USDINR

USDINR pair opened with slightly bearish but bounces back from its lower level and closed on strongly bullish note.
In the coming session, if the currency pair holds above 65.2500 then buy movement can be seen. On down ward side 64.7500 is crucial support level.

1

EURINR

EURINR pair has started the day with weak opening and moving under tight range and closed near to its days high.
If the currency pair manages to hold above 77.5000 then good upside movement can be seen, on southern side it has crucial support of 77.1000 below which correction expected.

2

GBPINR

GBPINR opened with gap down and recover its earlier losses and settled the day with some gain.
If the currency pair holds above the mark of 88.1500 then it may further move towards 88.5000. It has immediate support of 87.4000.

3

JPYINR

JPYINR pair was in continuous upward rally after the weak opening and closed the day with bullish note.
In up coming session if it manages above 58.2500 level then upside movment can be seen. On down ward side it has crucial support level of 57.8000.

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Your email address will not be published.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 *