The Rupee opened 13 paise higher at 68.05 against dollar on Monday on account of selling in American currency by banks and exporters. The US dollar slipped against major currencies as the President Donald Trump’s inauguration speech disappointed traders awaiting cues on economic spending and stimulus plans. The dollar fell to a 1-1/2 month low against an index of the world’s other top currencies on Monday, after US President Donald Trump struck a protectionist tone in his inauguration speech.
- Hong Kong SAR Consumer Price Index: 1.2% (December).
- turkey Consumer Confidence rose from previous 63.4 to 66.9 in January.
- Too early to change ultra loose monetary policy – ECB
- Singapore Consumer Price Index (YoY) climbed from previous 0 to 0.2 in December.
USDINR after a weak opening showed short pull back on higher side and managed to close the session on flat note. The pair found strong intraday support near 68.0000 and now 68.4000-68.5000 is seen as immediate resistance range from current levels.
EURINR showed strong opening and was able to sustain at higher levels. On lower levels, 73.0000 is seen as major support for the pair whereas 73.6000 will now act as important resistance if it continues the bull trend.
GBPINR surpassed the major resistance on daily chart so seen in last few sessions and closed on strong note. Bulls can continue if it maintains above the mark of 85.0000 while on lower side, 84.5000 is seen as good support from the current levels.
JPYINR showed positive momentum after consecutive three day fall and closed the session in green. Positive breakouts can be seen if the counter sustains above 60.3000. However, if it holds below 60.0000 then it may again drop down towards 59.0000 mark.
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