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Market Outlook

Indian Rupee appreciated against dollar in early session on back of firm cues from other Asian currencies but rebounded during the session and finally closed on flat note.

Japan’s trade surplus widened in April as exports and imports both declined sharply, underscoring ongoing challenges for the world’s third largest economy. Japanese exports declined 10.1% annually in April, much worse than March’s 6.8% year-over-year decline, government data showed on Monday.

, government data showed on Monday.

Fundamental News

  • Asian currencies firmer, await clues on timing of Fed move.
  • Dollar falls vs yen after Japan logs larger-than-expected trade surplus.
  • Eurozone flash PMI edges down to 16-month low.

French private sector output growth

USDINR

USDINR opened weak from previous close but Rupee depreciated and gradually dropped to close the pair on flat note.

Now, 67.8000 is seen as strict resistance ahead while 67.3000 may act as support from current levels.

usd1

EURINR

EURINR traded on weak note for first half of the session but then gained momentum from bottom levels to close on flat.

The pair is trading near to important level of 76.0000 and is expected to surpass it and trade higher any closing below 75.5000 can be a weak sign for it.

eur2

GBPINR

GBPINR opened weak and was unable to sustain on higher side and finally ended the sideways intraday session in red territory.

On higher side, 98.0000-98.2000 may act as resistance range while 100 day EMA of 97.1600 is seen as support.

gbp3

JPYINR

JPYINR showed a bull rally during the session and closed higher crossing the immediate resistance mark.

On daily charts, it is able to close above the strict resistance of 61.7000 which intends to take the pair higher while 61.4000 may act as near term support.

jpb4

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