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Market Outlook

The Indian Ruppe closed at 64.94 up by 5 paisa on Wednesday against the Dollar on account of selling of American currency by banks and exporters. While the Rupee open at 64.90 up by 8 paisa. The dollar sustains near one-week lows today due to the sudden dismissal of U.S. Secretary. U.S. President, targeting technology and telecomm sector of china and also seeking to impose tariffs on up to 60 million.

Fundamental News

  • Retail Sales n.s.a (YoY) of Italy registered down at -0.8% in January from previous -0.1%.
  • Spain Retail Sales (YoY) of Spain increased by 1% at 2.2% in January from previous 1.2%.
  • WPI Inflation of India registered lower at 2.48% from forecasts (2.5%) in February.

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USDINR

USDINR pair found resistance on higher level drags down closed with loss. Closing below psychological level of 65.0000 indicates more correction in currecy towards next support level. 65.2000 is act as major resistance.

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EURINR

EURINR open with strength but unable to hold on higher levels closed with partial gain. Immediate support for currency pair is seen near 80.2000 below this breakout may be expected. On upper level 80.6000 is resistance for it.

2

GBPINR

GBPINR open with positive bias showed correction but closed with positive note. Trendline on intraday chart act as resistance for it, above which more bullish movements can be expected in particular currency pair. 90.2000 is support level.

3

JPYINR

JPYINR after correction showed strength and closed with positive bias. Now, 60.9000 is vital support for the pair below this it may continue its bearish movements, whereas 61.2000 is act as resistance mark.

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