Against the US dollar, the Indian rupee appreciated by 26 paise to open at 71.4540 as gains in domestic equity market and fresh foreign fund inflows strengthened investor sentiments. Trump delaying the increase in Chinese tariff by 15 days enthused investors. US President Donald Trump has announced the delay of his proposed massive increase in Chinese import tariffs by 15 days. Besides, higher opening in domestic equities and weakening of the American currency vis-a-vis other currencies overseas supported the local unit.
- German IFO cuts 2019 growth forecast to 0.5% from 0.6%.
- IEA: US briefly dethroned Saudi Arabia as the world’s top exporter, WTI nears $ 55 mark.
- NZ: Shrinking manufacturing activity.
- China considering US farm imports ahead of talks as sign of goodwill.
USDINR after negative opening showed bearish movements closed with loss.
If able to sustain on lower levels then 71.0000 is seen as support zone for the currency pair below which next support is at 70.7000.
EURINR showed sideways to bearish movements closed around its support.
Currency pair shows more bearish movements if able to sustain below its immediate support of 78.5000 and drag towards 78.1000.
GBPINR opened with negative bias showed bearish movements closed with negative note.
87.5000 is seen as support zone for the currency pair breakout below this mark it may drag towards next support of 87.2000.
JPYINR showed bearish movements after negative opening closed with negative bias.
Sustaining below 66.0000 mark in upcoming session currency pair shows more negative movements and find next support around 65.6000.
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