Market Outlook
The Indian Rupee fell 7 paise to opened at 67.6525 against the US dollar on account of increasing in demand for the American currency from importers amid foreign fund outflows and rising retail inflation.Though, the dollar stay strong against basket of currencies as investors await a policy meeting at the U.S. Federal Reserve expected to shed some light on how many times interest rates may go up this year which also weighed on the rupee sentiment. However, firm domestic bourses limited the rupee’s losses.

Fundamental News
• United Kingdom Producer Price Index – Output (MoM) n.s.a came in at 0.4%, above forecasts (0.3%) in May.
• European Monetary Union Employment Change (YoY) below expectations (1.6%) in 1Q: Actual (1.4%).
• Singapore Unemployment rate remains at 2% in 1Q.


USDINR opened with positive bias sustain on higher levels closed with positive note.
Currency pair trades around its strong resistance level if sustain below it than correction can be seen in it towards 67.5000 mark.

EURINR opened with negative bias showed correction closed with flat note.
Form strong consolidation around its resistance suggesting positive movements in currency pair towards psychological level of 80.0000.

GBPINR unable to sustain on higher levels showed correction closed with negative bias.
Currency shows strength if sustain above its resistance level and may find next resistance around 90.8000. On lower levels 90.2000 is strong support for it.

JPYINR showed sideways movements after negative opening closed with partial loss.
Currecy pair looks bearish if sustain below its immediate support mark of 61.2000 and find next support near 61.0000. On higher side 61.5000 is resistance for it.

(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Your email address will not be published.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 *