The rupee started the new year on a positive note and appreciated by 14 paise to open at 69.7975 and throughout the day traded in the range of 69.9700 and 69.5775 against the US dollar amid weakness in the greenback against some major Asian peers. Moreover, increased selling of dollar by banks and exporters also bolstered the local unit. On contrary, dollar fell against the yen and euro in thin year-end trading as optimism about progress in the U.S.-China trade dispute hurt its safe-haven allure, but the greenback remained on track to log its most strongest annual performance in three years.
- United States Dallas Fed Manufacturing Business Index down to -5.1 in December from previous 17.6.
- Chile Unemployment rate: 6.8% (November) vs previous 7.1%.
- India Infrastructure Output (YoY) down to 3.5% in November from previous 4.8%.
- Greece Retail Sales (YoY) down to -4% in October from previous 3.3%.
USDINR after correction found resistance on higher levels closed around its day low.
Now, strong support for the currency pair is seen near 69.3000 breakout below which it may shows more negative movements.
EURINR showed sideways to bullish movements but it took correction and closed with partial loss.
If sustain below psychological level of 80.0000 it may drag towards next support zone of 79.7000 below which it comes in bearish zone.
GBPINR opened with partial loss found resistance on higher levels closed with flat note.
Now, opening above its immediate resistance of 89.5000 it may shows bullish movements and find next resistance near 89.8000 mark.
JPYINR after negative opening showed correction and closed with partial gain.
63.8250 is still act as strong resistance level for the currency pair only above this mark it may shows bullish movements towards 64.2000.
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