Market Outlook

The rupee strengthened to 64.63 against the US currency due to increased dollar selling by banks and exporters. According to forex dealers, weakening of dollar against other currencies overseas also supported the rupee.
dollar touched a two-month low against the yen on Thursday, having tumbled after the minutes of the Federal Reserve’s latest meeting showed some policymakers were concerned about persistently low inflation in a blow to rate hawks.

Fundamental News

•    Brazil Mid-month Inflation dipped from previous 0.34% to 0.32% in November.
•    United Kingdom Total Business Investment (QoQ) below expectations (0.4%) in 3Q: Actual (0.2%).
•    Italy Trade Balance non-EU up to €4.55B in October from previous €3.54B.


USDINR pair has given support level break out and sustaining below its lower level, closed the day with loss.
For upcoming session if it sustain below support of 64.4000 then more selling can be seen. It has immediate resistance level of 64.8000.



EURINR pair opened gap up some profit booking witnessed in later session, settled the day with positive note.
Now, 76.8000 is act as immediate resistance level above this upside movement might be seen. 76.3000 is crucial support level.



GBPINR pair unable to sustain on higher level drags down and closed with weak note.It has support of 85.7000 level below this correction is expected upto 85.2000. On higher level 86.3000 is act as good resistance.



JPYINR pair opened gap up but unable to hold its upper level and came down, settled near to its days low. Now, 58.0000 is act as a psychological support level below this some profit booking can be seen. 58.3000 is resistance level.


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