Continuing its rising spree for the sixth straight day, the rupee appreciated by 9 paise to open at 71.5400 and hovered in the range of 71.5400 and 71.2850 against the US dollar on persistent foreign fund inflows. Moreover, the dollar weakness against major Asian peers also bolstered the rupee. Dollar slid lower, to trade at a near two week low against a currency basket as market participants remained subdued ahead of the U.S. Thanksgiving holiday later in the week. The dollar came under pressure after data showing that sentiment among U.S. homebuilders fell at the fastest pace in more than four-and-a-half years in November.
- Greece Current Account (YoY) fell from previous €1.564B to €0.551B in September.
- Switzerland Trade Balance above forecasts 2890M in October: Actual 3748M.
- France ILO Unemployment came in at 9.1% below forecasts (9.2%) in 3Q.
USDINR open with negative bias showed sideways movements closed around its day high.
Sustaining below its support level suggest more selling pressure in it and may drag towards its next support zone of 71.0000.
EURINR showed volatile session and closed around its support level.
Immediate support for the currency pair is seen near 81.7000 if able to breaks it in upcoming session then it may drag towards 81.5000 mark.
GBPINR after negative opening found support on lower levels closed with loss.
Currency pair continue its bearish trend if able to sustain below psychological level of 92.0000 and may find support around 91.7000.
JPYINR showed correction from its lower levels and closed with partial gain.
Now, 63.5000 is act as support zone for the currency pair opening below this mark it may continue bearish rally towards 63.3000.
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