The Rupee continued its stellar performance against the US currency for the fourth straight day today ending higher by 13 paise at 66.82 on heavy dollar selling. A smart rally in local equities alongside sluggish dollar overseas mainly supported the rupee move.
US non farm payrolls rose by a seasonally adjusted 151,000 in August. Employment growth slowed from July’s 275,000 and came in below the 180,000 expected by analysts. The US unemployment rate stood unchanged at 4.9% in August. Revisions showed US economy added 1,000 fewer jobs in June and July than previously estimated.
- Industrial producer prices up by 0.1% in both euro area and EU28.
- UK construction sector moves closer to stabilization in August.
- Spanish Unemployment in August increased by 14,435 people.
- Japan’s Consumer Sentiment Improves More Than Forecast.
USDINR opened gap down and closed below the key support as seen on daily chart.
Now, if Rupee appreciated further against the greenback and sustains below 67.0000 then it may fall towards 66.8000. On higher side, 67.1700 will now act as immediate support.
EURINR was able to sustain higher for the whole session and closed in green territory.
It has been hovering around 100 day EMA on daily charts and any closing above 75.2500 can strengthen the counter while 74.9000 may act as near support.
GBPINR was not able to hold much at higher levels as in previous session and closed on weak note.
It needs to sustain above 89.0000 mark to continue the bulls whereas if bears continue then it may drag towards the important support of 88.0500.
JPYINR again dragged for the seventh consecutive session and closed in red.
Weakness can be seen till the counter sustains below the important support of 65.2500 while 64.5000 is seen as next support.
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