The Rupee strengthens by 14 paisa and opened at 68.3225 against the US Dollar following relentless capital outflows amid concerns over macro conditions and surging crude oil prices. Moreover, domestic forex market sentiment succumbed to bouts of pressure on the revival of fresh global trade war fears between US and China. The dollar slid against basket of currencies after climbing overnight to a fresh high for the year. However there is no key economic data in the region, investors focused on political events that clouded the market outlook.
• United Kingdom Retail Sales (MoM) came in at 1.6%, above forecasts (0.7%) in April.
• Sweden Producer Price Index (YoY) rose from previous 4% to 4.9% in April.
• Japan Leading Economic Index registered at 104.4, below expectations (105.6) in March
USDINRUSDINR showed sideways to negative movements closed near to its day low.
Currency pair has strong resistance of 68.5000 if sustain below it than more correction can be seen in it towards support level of 68.0000.
EURINREURINR showed correction after negative opening unable to sustain on higher levels closed with loss.
79.9000 is act as strong support zone for it if give breakout in upcoming session than it may shows bearish movements and find support around 79.7000.
GBPINRGBPINR showed positive movements found resistance on higher level closed with gain.
Form consolidation around its intraday support level if able to sustain below it than correction can be seen in it and may drag towards 91.2000 level.
JPYINRJPYINR showed sideways movements gave correction closed with partial loss.
62.2000 is immediate support mark for the currency pair sustaining below which may shows more correction in it towards support of 61.9000
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