The Rupee slipped from its initial gains, depreciating by 12 paise to 67.03 against the American currency in late morning deals on sudden bouts of dollar demand from imports and banks amid lower domestic equities.
US dollar was mostly mixed against its major rivals in early Asian trade. It extended its gains and scaled a three-week high against the yen after China’s second-quarter gross domestic product and June activity data pointed to stabilization in China’s economy and bolstered risk sentiment.
- Dollar jumps to 3-week high vs yen after China GDP data.
- Euro area international trade in goods surplus €24.6 bn.
- Annual inflation up to 0.1% in the euro area.
- Korean won, stocks end a positive week at multi-weeks’ highs.
USDINR recovered after two days fall and finally closed in green territory.
If the pair continues the recovery in coming sessions then 67.4000 is seen as resistance while 66.9000 can act as immediate support.
EURINR although consolidated in the same range as of previous two sessions but closed the intraday session on a positive note.
Nearest resistance seen ahead is 75.0000 while 74.3000 is still seen as important support.
GBPINR kept the positive momentum of the previous session after Bank Of England kept the rates unchanged and finally settled on positive note.
The pull back so seen in previous sessions can carry the pair towards 90.7000 while 88.9000 may act as nearest support.
JPYINR after continuous downfall of four sessions was able to recover during the session from bottom levels.
Now, 62.9000 is seen as key support on daily charts while on higher side, 64.2000 is seen as immediate resistance for the counter.
(Click to submit your details) Just one step to get best trading tips and Recommendation.