The Indian rupee on Friday weakened against the US dollar in the mid trade, headed for the biggest weekly drop in seven weeks.
The dollar edged higher on Friday as an overnight spike in U.S. Treasury bond yields prompted some investors to buy the greenback after some recent heavy selling.But the greenback was set for its biggest weekly drop in four weeks as investors were disappointed that a landmark U.S. tax bill may be delayed until 2019.
• United Kingdom Industrial Production (YoY) above expectations (1.9%) in September: Actual (2.5%).
• Italy Industrial Output w.d.a (YoY) below expectations (4.8%) in September: Actual (2.4%).
• France Nonfarm Payrolls (QoQ) came in at 0.2%, below expectations (0.3%) in 3Q.
USDINR pair opened with gap up and holds its upper level, closed the session with good gain.For upcoming session if it breaks 65.3500 resistances level then upside breakout can be expected. 65.000 is important support level.
EURINR pair has continued its northward journey and settled near to its days high.76.2000 is psychological resistance level above this upside movement can be seen. 75.8000 is crucial support level.
GBPINR pair came down in first half but unable to sustain its lower level and bounce back, closed the day with positive note.Now 86.0000 is major resistance if it manages above it then good upside movement can be seen. 85.5000 is support level.
JPYINR pair started the day with good gain and hover near to its important resistance level, closed with positive note. It has immediate resistance is 57.6500 above this its can give good recovery, 57.2000 is act as a crucial support level.
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