The Indian rupee weakened to six-week low against the US dollar, while bond yields hit a fresh six-month high, ahead of the Consumer Price Index (CPI)-based inflation data due on Monday after 5.30pm. Fall in rupee was also due to selling by foreign investors in debt markets worth $400 million in last seven consecutive sessions.
The dollar edged higher on Monday as last week’s spike in U.S. bond yields supported the currency, with sterling–battered by political headwinds–the biggest loser.
• Portugal Consumer Price Index (MoM) down to 0.3% in October from previous 0.9%.
• Turkey Current Account Balance below expectations ($-4.125B) in September: Actual ($-4.527B).
• Netherlands, The Retail Sales (YoY) rose from previous 5.6% to 6.6% in September.
USDINR pair continues its upward journey and closed the day with good gain.
Now, 65.7000 is major resistance if it manages above this then more upside movement can be seen. 65.2000 is support level.
EURINR pair opened with gap up and holds its upper level throughout the day, settled near to its resistance level.
76.5000 is act as psychological resistance level above this upside movement can be seen. 76.0000 is crucial support level.
GBPINR pair showed bullish rally in earlier session but unable to hold its higher level and came down, closed in negative note.It has immediate resistance of 86.1000 above this it can give bullish movment, 85.5000 is act as a crucial support.
JPYINR pair followed its northward journey and settled the day near to its days high.
For upcoming session if it breaks 58.0000 resistances level then upside breakout can be expected. 57.5000 is important support level.
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