Against the US dollar, the Indian rupee appreciated by 4 paise to open at 68.5800, also marking a sixth straight session of gains, driven by sustained foreign fund inflows and narrowing trade deficit. Investors prepared for a meeting of Federal Reserve policy makers to begin Tuesday. The Fed is expected to leave rates unchanged when it concludes a two-day meeting on Wednesday. Investors will focus on the statement issued by policy makers.
- Australia’s 3-year bond yield drops below RBA cash rate first time since 2016.
- Yen benefits as dollar faces expectations for an accommodative Fed.
- US Dollar slide continues, Brexit soap opera takes another twist.
- The Aussie traded lower, as another set of weak housing market data in Australia added to pessimism about the local economic outlook.
USDINR found support on lower levels showed positive movements closed with gain. Sustaining above 69.0000 mark in upcoming session give strength to particular currency pair and find resistance around 69.5000.
EURINR opened with negative bias unable to sustain on lower levels closed with positive note. Now, 78.7000 is seen as immediate resistance zone for the currency pair breakout above which may take it towards 79.0000 level.
GBPINR after correction found support and closed around its resistance level. Psychological level of 92.0000 is act as strong resistance zone for the currency pair sustaining above it may find next resistance near 92.3000.
JPYINR showed bullish movements throughout the session closed with positive bias. On lower levels 62.0000 is act as strong support for upcoming session, sustaining above this mark it may shows positive rally towards 62.6000.
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