The rupee on Tuesday opened 31 paise down at 65.59 against dollar on account of buying of American currency by banks and importers amid sustained outflows by foreign portfolio investors.
The dollar climbed for a second consecutive day on Tuesday as a strong reading for US manufacturing activity pushed bond yields higher, prompting investors to trim some of their extreme short bets against the greenback.
- Japan: Snap election, strong Tankan, little inflation – ING.
- UK construction PMI returns to contraction in Sept, a big miss on expectations.
- EU’s Juncker: Still too much lack of Brexit clarity.
- Global FX reserves up in Q2 on valuation effects – ANZ.
- Australia: Aug dwelling approvals up 0.4%mth – Westpac.
USDINR pair was opened with gap up but drag down from its higher level and closed the day with flat note.For upcoming session if it sustain above 66.0000 then good upside movement can seen. It has 65.4500 as major support below this downward correction is expected.
EURINR Pair Started the day with gap down but recovered its earlier losses in second half and settled the day with good gain. Now, the mark of 77.5000 will be seen as important resistance while 77.0000 act as support zone. the currency pair.
GBPINR pair was pull down from its higher level and conclude the session with weak sentiment. If it able to sustain below 87.0000 then it may pull down towards next support zone.87.5000 is crucial resistance level.
JPYINR opened on weak note and sustained on lower note the whole session and settled the day near to its days high. If it surpasses the immediate support of 58.0000 then it may further drag to deeper supports whereas 58.5000 is resistance level.
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