The Indian rupee depreciated by 12 paise to open at 70.8025 and throughout the day hovered in the range of 70.8500 and 70.4325 against the US dollar on increased demand for the greenback from importersand banks. Moreover, fresh foreign fund inflows, easing crude prices and positive opening in domestic equities supported the rupee and restricted the fall. On the flip side, the U.S. dollar continued to strengthen in Asia against major Asian peers while the Aussie dollar slipped on disappointing economic growth data.
- Sweden Current Account (QoQ): 39.6B (4Q) vs 38.6B.
- Norway Current Account declined to 46.8B in 4Q from previous 91.78B.
- Aussie GDP comes in as a miss of 0.2% Y/Y and a miss of 0.1% Q/Q (Aussie lower).
- United States Monthly Budget Statement above forecasts $-11B in January: Actual $9B.
USDINR after positive opening found resistance on higher levels closed around its support.
Sustaining on lower levels may result in more negative movements and find support around psychological level of 70.0000.
EURINR opened with negative bias broke its psychological support closed below it.
If unable to sustain above 80.0000 in upcoming session then continue bearish rally towards its next support zone of 79.3000.
GBPINR showed sideways to bearish movements closed with negative bias.
Immediate support for the currency pair is seen around 92.7000 breakout below this mark it may shows more negative movements.
JPYINR opened with positive bias found resistance and closed with negative note.
63.0000 is seen as strong support zone for the currency pair below this it may give negative movements towards 62.5000. On higher levels 63.4000 is immediate resistance.
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