The rupee extended Wednesday’s gains and opened 8 paise higher at 67.83 against dollar after the American currency lost some of the steam against a basket of top global currencies as investors booked some profit before the release of US economic data due later in the day. The dollar dipped for a second day on Thursday as traders booked profits ahead of a batch of US data later in the day, though the greenback was still trading less than a per cent away from a 14-year high touched earlier in the week.
- Italy Industrial Orders s.a (MoM) up to 0.9% in October from previous -6.8%.
- Sweden Retail Sales (YoY) rose from previous 2.4% to 3.6% in November.
- German Import prices in November 2016: +0.3% on November 2015.
USDINR opened below the previous close but gained momentum during the session and closed in green.It has been moving in the same specific range and needs a proper breakout on either side to follow the trend where 68.1000 is seen as resistance while 67.7000 as support.
EURINR showed positive momentum in the last session and pull back helped to close it on a strong note.Strength can be seen if it sustains above 71.1000 and may move towards 71.6000 whereas 70.5000 is seen as important support for the pair.
GBPINR continued the bear rally as seen on daily chart and found support around the previous session lows’.In the coming session, if it maintains below the level of 83.7500 then sell offs could be observed whereas 84.3500 is marked as stiff resistance for the counter.
JPYINR has been moving in a tight range since last few sessions and closed the previous session in the same range.
It needs a closing above 58.0000 mark to gain positive momentum while 57.3000 will continue to act as major support for the counter.
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