Against the US dollar, the Indian Rupee crashed below the 72-mark tto hit all time low of 72.2875, extending losses as a rout in emerging markets kept investors on edge. Rupee registered its worst returns in 3 years as crude oil prices rallied on speculation that sanctions in Iran will shrink global supplies. On the flip side, against the major Asian peers, the dollar remained steady as concerns over global trade tensions and recent turmoil in emerging markets supported safe haven demand for the greenback. On the US data front, the trade deficit jumped almost 10% in July, hitting the highest level in five months and keeping the US on pace to record the largest annual gap in a decade.
- Greece Unemployment Rate (MoM) down to 19.1% in June from previous 19.5%.
- Germany Factory Orders s.a. (MoM) below forecasts 1.8% in July: Actual -0.9%.
- Switzerland Gross Domestic Product s.a. (QoQ) came in at 0.7%, above expectations 0.5% in 2Q.
USDINR showed sideways to positive movements closed with partial gain.
Now, immediate resistance for the currency is seen around 72.3000 above this level it may continue bullish rally towards 72.5000 mark.
EURINR showed sideways movements after positive opening closed with positive bias.
Closing below its psychological level of 84.0000 suggesting some correction in particular currency pair and may find support around 83.5000.
GBPINR continue its bullish movements after positive opening closed with gain.
93.4000 is act as resistance level for the currency if able to sustain above it then find next major resistance around 94.0000 level.
JPYINR after positive opening showed sideways movements closed with positive note.
Currency pair continues its bullish rally above 65.0000 level and may find resistance around 65.2000. On lower levels 64.6000 is act as support for it.
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