Market Outlook

The Rupee opened depreciated 10 paisa at 65.7900 and moved between 65.7425 and 65.8700 in today’s trading hour against the dollar at the interbank forex market today on increase demand for the greenback from importers and banks amid soaring crude oil prices overseas. However, The Dollar’s weakness against basket of currencies and a firm domestic equity market crap the rupee’s losses.

Fundamental News

  • SAR Unemployment rate of Hong Kong remains unchanged at 2.9% in March.
  • Monetary Union Current Account s.a of Europe above forecasts (€32.3B) in February: Actual (€35.1B)
  • United Kingdom Retail Sales ex-Fuel (YoY) registered at 1.1%, below expectations (1.4%) in March.

USDINR

USDINR open with positive bias showed sideways movements and closed with gain. Currency pair found strong resistance on higher levels if give breakout in coming session then next resistance is seen near 66.10000.

EURINR

EURINR showed sideways movements throughout the session closed with partial gain. If sustain below its immediate support of 81.3000 then it may drag towards 81.0000 level. On higher side 81.6000 is major resistance zone.

GBPINR

GBPINR unable to sustain on lower levels showed positive movements and closed in green. If continue positive movements then it may resistance around 94.0000 above which it will again come in bullish zone. 93.2000 is support mark for it.

JPYINR

JPYINR showed sideways movements and closed with flat note. Form strong support around 61.2000 if break in upcoming trading session then negative movements were seen in it towards 60.7000 levels.

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