Market Outlook

The ruppes is trading under a flat note due to The economic survey, due to be released around  provides the government’s forecasts across key metrics such as growth and inflation, and is seen in markets as a harbinger of the federal budget, which will be unveiled on Thursday. The dollar edged higher against a basket of currencies on Monday, helped by rising bond yields and a week packed with U.S. data starting with a central bank policy decision, though the broader outlook remained murky for the greenback.

Fundamental News

  • Italy Producer Price Index (MoM) fell from previous 0.4% to 0% in December.
  • Spain Retail Sales (YoY) declined to 1.2% in December from previous 2%.
  • Germany Import Price Index (YoY) above expectations (1%) in December: Actual (1.1%).

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USDINR

USDINR pair moved under a tight range throughout the day and closed the session near to its day high. It has major support of 63.6000 if it sustain below this  then more selling towards next support level can be witness whereas 64.0000 is acting as psychological resistance level.

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EURINR

EURINR pair came down in earlier session but bounced back from its support and closed with weak note. For upcoming session if it manages to hold above 79.5000 then it can move towards next resistance level of 79.9000. On downward side 78.8000 is support level.

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GBPINR

GBPINR pair opened with gap down and witnessed the selling pressure throughout the day, closed with loss. Now, it has immediate support of 89.6000 below this mark more profit booking can be seen. On higher side 90.4000 is resistance level.

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JPYINR

JPYINR pair has continued its upward journey and closed the session with good gain. This pair has immediate resistance of 59.0000 above this it may move towards next resistance level. On southern side it has 58.4000 as support mark.

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