The Rupee opened up by 7 paisa, made a low of 65.1600 in early trade and hovering in the range of 10 paisa between 65.0750 to 65.1600 during trading hours against the US dollar after the RBI lowered its inflation forecast and revised up its growth outlook. USD index measures the greenback’s value against six major currencies, was up at 90.08 in early trade. Hopes that The China and US will reach to overcome rising trade tensions support dollar to rallied against all major currencies.
- US Consumer Credit Change below expectations ($15B) in February: Actual ($10.6B).
- Turkey Treasury Cash Balance: -6.66B (March) vs -11.54B.
- Ivey Purchasing Managers Index of Canada s.a below forecasts (60.2) in March: Actual (59.8).
- Net Change in Employment of Canada came in at 32.3K, above forecasts (20K) in March.
USDINR showed sideways movement’s throguout the session closed with flat note. Found strong support near 65.0000 if break in upcoming session then downside movement were expected in it. On higher levels 65.3000 is resistance mark.
EURINR showed negative movements closed around its day low. More correction is expected in currency pair towards next support level of 79.5000. On upward side 80.0000 is act strong resistance.
GBPINR open with negative bias showed sideways movement closed with loss. Trades around its support zone if continues bearish movement then it may drag towards 90.5000 mark, whereas 91.5000 is immediate resistance.
JPYINR trades in negative territory and closed around its strong support on daily charts. Currency is still looks bearish and expected to break daily support level below which it may find next support around 60.0000. Contrary 61.0000 is resistance zone for it.
Click to submit your details) Just one step to get best trading tips and Recommendation.