The Rupee was trading nearly 6 paise higher at 67.81 against the US dollar in early trade on Tuesday amid buying of the American currency by banks and exporters amid mixed global cues. The rupee slipped around 11 paise against the dollar on Monday. Robust foreign money outflow coupled with near-term consequences of Fed rate hike largely kept sentiments cautious despite a dollar retreat. The 10-year G-sec yield stood at 6.45-6.56 per cent during the week and the rupee is likely to stay at 67.5-68 against dollar.
- Dollar bounces back near 14-year peak, yen slips after BOJ.
- German Producer prices in November 2016: +0.1%.
- European Monetary Union Current Account s.a above expectations (€24.2B) in October: Actual (€28.4B).
- Sweden Consumer Confidence (MoM) fell from previous 105.8 to 103.2 in December.
USDINR gave the positive breakout after the three day consolidation on daily charts.If the pair is able to sustain above 68.0000 mark then it may move towards the immediate resistance of 68.2300 whereas 67.7000 is seen as major support for it.
EURINR opened gap down and sustained on lower levels for the entire session.
If it further slips on lower side then it may test the deeper support of 70.5000 while 71.1000 is seen as important resistance for the counter.
GBPINR opened below the previous session’s close and closed again in red zone.Now, the important support level so observed is 83.9000 sustaining below which can drag the pair further down whereas 84.8000 is seen as major resistance.
JPYINR hovered in the same range as of previous session and closed in red.The stiff resistance which it is facing is of 58.0000 mark sustaining above which can lead it higher while 57.3000 may continue to act as strong support.
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