14611112_209332472813393_2657747200271385528_n-copy

Market Outlook

Indian rupee opened nearly 5 paise up at 68.11 against dollar on Tuesday on account of some selling of American currency by banks and exporters. Meanwhile firm opening of domestic equity markets also supported sentiments.
The Reserve Bank of India is suspected to have intervened heavily to curb the rupee’s sharp slide on a day when overseas investors sold local securities leading to fund outflows. The central bank sold dollars as the surplus liquidity, triggered by the government’s demonetization move.

Fundamental News

  • Dollar retreats from 13 1/2-year high as metals rally.
  • Yen Holds Gains Despite Weak Store Sales.
  • China’s yuan pulls up, but still near 8-1/2-year lows.
  • United Kingdom Public Sector Net Borrowing below expectations (£5.9B) in October: Actual (£4.301B).
  • Hong Kong SAR Consumer Price Index: 1.2% .

USDINR

USDINR sustained on higher levels for the third consecutive session and closed on a flat to positive note.On daily chart, the currency pair is constantly facing the important resistance of 68.3100 and breaching it can mark for new highs while 68.0000 is seen as key support.

1

EURINR

EURINR headed higher after the two day consolidation and closed the session in green.Now, if it is able to sustain above 72.6500 then strength can be seen in the counter whereas any closing below 72.4000 can weakened the sentiments.

2

GBPINR

GBPINR opened gap up after a short correction in the last session and closed with a gain of more than 1%.On daily chart, it closed around the important resistance of 85.3000 and closing above it can further strengthen the counter. On lower side, 84.7000 is seen as key support.

3

JPYINR

JPYINR moved in the same range and closed in the same range as of previous three sessions.On marching northward, it may lead towards the important resistance of 61.8500 while on lower side, 61.3000 may act as key support for the pair.

4

(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Your email address will not be published.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 *