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Market Outlook

The Indian rupee on Friday was trading marginally lower against US dollar after US President Donald Trump imposed USD 60 billion of tariffs on Chinese imports. The rupee opened at 65.1600 a dollar and touched a high and a low of 64.9900 per Dollar versus 65.1300 yesterday respectively. The dollar slump further against other currencies in Asia in the act of U.S. tariffs imposed on Chinese imports and China’s retaliation measures jolted investors’ confidence and sent the dollar down.

Fundamental News

  • Greece Current Account (YoY) of Greece climbed from previous €-1.241B to €-0.586B in January.
  • Unemployment s.a of Norway Registered above expectations (82.6K) in March: Actual (83.63K).
  • Industrial Production (YoY) of Austria rose from previous 3.5% to 6.1% in January.

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USDINR

USDINR opened with gain but unable to sustain on higher levels closed with loss. Still 65.0000 level is strong support for the currency pair if continue positive movements then may find resistance near 65.3000. On lower levels 64.8000 is support.

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EURINR

EURINR showed negative movements in second half of the session and closed with loss. For upcoming session if give breakout of support level 80.0000 then it may show more correction towards 79.7000 mark. 80.4000 is strong resistance for it.

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GBPINR

GBPINR showed continuous bearish movement after support breakout and closed with negative note. On lower levels 91.4000 is strong support for currency pair may show correction towards this level, whereas above 92.0000 it will continue its positive movements.

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JPYINR

JPYINR opened the session with positive note showed some correction but closed with gain. Psychological level of 62.0000 is act as vital resistance zone for it in coming trading sessions above which 62.3000 is next resistance. On downward side 61.6000 is support fot it.

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