Market Outlook

The rupee on Thursday started 10 paise down at 63.68 against the dollar ahead of the tabling of the Union Budget 2018 at around 11 am. The U.S. dollar turned lower against other major currencies on Thursday, as investors became more cautious ahead of Friday’s highly-anticipated employment data. The greenback briefly rebounded after the Federal Reserve, at the conclusion of its policy meeting on Wednesday, signaled its confidence about inflation and growth in the U.S. The Fed left rates unchanged on Wednesday, in widely expected move. The meeting was current Fed chair Janet Yellen’s last.

Fundamental News

  • United Kingdom Market Manufacturing PMI came in at 55.3 below forecasts (56.5) in January.
  • Austria Unemployment increased to 379.2K in January from previous 378.7K.
  • France Markit Manufacturing PMI came in at 58.4, above expectations (58.1) in January.

5 6

USDINR

USDINR pair has given recovery from its lower level and closed the day with good gain. This pair has major resistance of 64.4000 if it manages to hold above this mark then it can go towards next resistance level of 64.6000, whereas 63.7000 is support level.

1

EURINR

EURINR pair has continued its upward journey and settled the session with good gain. It has resistance of 80.0000 above this it can follow its upside movement and test next resistance level of 80.2000, on downward side it has support of 79.5000.

2

GBPINR

GBPINR pair opened with gap up and followed its upward movement, settled near to its day high. For upcoming session if it manages to hold above 91.5000 mark then it can continue its northward journey, on downward side 90.8000 is support level.

3

JPYINR

JPYINR pair opened with gap down and hovered under tight range throughout the day closed with loss. Now, it has immediate support of 58.2000 below this mark more correction can be expected towards next support level, 58.7000 is act as major resistance level.

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Your email address will not be published.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 *