Rupee is now the seventh best-performing emerging market currency compared to 18th a month ago. The local currency appreciated 0.8% this week itself, reversing a weakening trend that was earlier dampened by a stronger dollar supported by the US economy.
Euro slipped on Monday after posting its biggest weekly rise in a month as traders took profits, though markets were wary of chasing the currency lower before an ECB policy meeting next week.
• European Monetary Union Trade Balance s.a. above forecasts (€20.3B) in August: Actual (€21.6B).
• Turkey Budget Balance dipped from previous -0.87B to -6.4B in September.
• India WPI Inflation below forecasts (3.41%) in September: Actual (2.6%).
USDINR pair opened with gap down and showed negative biasness throughout the day, settled the session near to its day low.Now 64.7500 has crucial support level below this it can move further towards its deeper support. 65.0000 is resistance.
EURINR pair started the day with gap down and continued its southward journey, closed the day with negative note.
It has major support of 76.40000 level below this mark selling can be seen. 76.8000 is immediate resistance level.
GBPINR was trading under a tight range with slightly bullishness and closed near to its resistance level.For upcoming session if its price manages above 86.6000 level then good upside movement can seen. 86.0000 is major support zone.
JPYINR has given short covering form its lower level and settled the day with good gain.If its price manages its important resistance mark of 58.2000 then it can continue its northward movement. 57.7000 is act as a immediate support.
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