The Rupee rising 9 paise to 67.90 in early trade at the Inter-bank Foreign Exchange today on increased selling of the US currency by exporters and banks. The local currency had depreciated by 8 paise to settle at 67.99 against the greenback yesterday on massive capital outflows that induced further instability to the currency markets The dollar was almost unchanged against the other major currencies, still hovering close to 14-year highs amid sustained and trading volumes was expected to remain thin ahead of the Christmas holiday.
• Russian President Putin: 2017 budget envisages oil at $ 40/bbl – RTRS.
• Austria Industrial Production (YoY) down to 0.2% in October from previous 2.6%.
• United Kingdom Total Business Investment (YoY): -2.2% (3Q) vs previous -1.6%.
USDINR was unable to sustain on higher side and slipped towards the support mark on daily chart.Any closing below 67.7300 can result in weakness in the currency pair whereas 68.0000 will continue to resist it from moving northwards.
EURINR could not carry forward the bulls so seen in the last session as a result of pull back.If it slips below 70.8000 then it may fall towards the next support of 70.5500 whereas 71.3000 is seen as immediate resistance for the counter.
GBPINR opened gap down and showed sharp downfall closing the session with loss of approx 1%.If it sustains below the psychological level of 83.0000 then it may move towards the next major support of 82.3000 while 83.8000 is seen as important resistance for the pair.
JPYINR is not able to witness any major moves and is trading sideways.It is facing stiff resistance around 58.0000 mark due to which it is unable to show positive breakouts whereas 57.3500 will continue to act as good support.
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