The Rupee depreciated 3 paise against the US dollar on Tuesday after the Reserve Bank of India announced the policy rates keeping the key rates unchanged. RBI kept the policy repo rate under the liquidity adjustment facility unchanged at 6.5 per cent.
The Office for National Statistics (ONS) published the industrial and manufacturing production data, showing that the manufacturing sector activity slowed the pace of deceleration in June. It dropped 0.3% m/m in June versus a revised 0.6% fall seen in May, while total industrial output rose 0.1% m/m, after booking a revised -0.6% in May.
- Sterling slides as BoE rams home easing message.
- ASIA FX-Search for yields supports Asia FX; won, Taiwan dlr over 1-yr peaks.
- German exports in June 2016: +1.2% on June 2015.
- UK June industrial production expands 0.1% m/m vs. -0.1% expected.
USDINR continued the previous session’s bull momentum in the initial part of the session but dragged in later half to close on flat note.
It strictly resisted around 100 day EMA i.e. 67.2000 and 66.9000 is still seen as good support.
EURINR extended the bearish trend so seen in last few successive sessions but managed to close on flat note.
On lower side, 74.0000 may act as key support for the counter whereas 74.6000 may resist it to move northwards in coming sessions.
GBPINR is continuing the bear trend since last four consecutive sessions and closed in red.
Now, if it sustains below 87.0000 mark then it may soon fall towards the next key support of 86.6500 while 87.9000 will act as major resistance.
JPYINR although did not showed any major movements on daily charts but closed above the previous close.
Now, any closing below 65.4000 can drag the counter towards deeper supports while 66.0500 is seen as immediate resistance on daily charts.
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