Market Outlook

The rupee appreciated by 11 paise to 70.8625 and traded in the range of 71.0775-70.7625 against the United States (US) dollar in early trade on Tuesday as foreign fund inflows and easing crude oil prices enthused investors.

 The U.S. dollar remained broadly supported after U.S. Treasury Secretary Steven Mnuchin confirmed U.S.-China trade talks will resume next month, but concerns about slowing global growth continued to weigh on market sentiment.

Fundamental News

  • Asian stocks register modest gains as trade optimism confront geopolitical/growth fears.
  • German IFO Business Climate Index rises to 94.6 in September; EUR/USD stays below 1.10.
  • Australia: Consumer Confidence consolidates at a low level.

USDINR found support and showed bullish movements closed with partial gain.

Now, 71.1000 is seen as immediate resistance for the currency pair breakout above this mark it may shows positive movements towards 71.5000.

EURINR unable to sustain on lower levels showed correction closed with positive note.

Currency pair continue bullish movements if able to sustain above support zone of 78.0000 and find resistance around 78.6000.

GBPINR showed bullish movements from lower levels closed with positive bias.

Immediate resistance for the currency pair is seen around 88.7000 sustaining above this mark it may find next resistance around 89.0000.

JPYINR showed sideways to bullish movements closed with partial loss.

Sustaining above 66.0000 mark in upcoming session currency pair continue bullish movements towards resistance level of 66.5000.

(Click to submit your details) Just one step to get best trading tips and Recommendation.

Leave a Reply

Your email address will not be published. Required fields are marked *