The Rupee appreciated by 11 paise to 66.83 against the dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the American currency by exporters. Besides, the retail inflation in September dropping to 13-month low of 4.31 per cent and a higher opening of the domestic equity market also supported the rupee, but dollar’s strength against some currencies overseas capped the gains.
The Singapore dollar fell to a seven-month low on Friday after the trade-reliant economy unexpectedly contracted in the third quarter, keeping expectations of further policy easing alive.
- Yuan firms, but heads for biggest weekly drop since January.
- Singapore dlr at 7-mth low as grim Q3 GDP keeps easing bets alive; baht up.
- Euro area international trade in goods surplus €18.4 bn.
- Italy Consumer Price Index (EU Norm) (YoY) meets expectations (0.1%) in September.
USDINR washed off all the gains which it showed in previous session and closed on lower note.
On daily chart, it took stiff resistance around 100 day EMA from where it reversed and now 66.6000 is seen as good support from current levels.
EURINR extended the bears after it gave negative breakout from key support on daily chart.
It closed below the support of 73.7400 as seen on chart above and now may further move southwards towards deeper support levels.
GBPINR moved in the same range as of previous session and closed the session on a flat note.
Selling pressure may continue and can enhance if it surpasses the support level of 81.4000. On any correction, the counter will find resistance in the range of 82.0000-82.6000.
JPYINR opened gap down and continued the bears throughout the session.
On daily charts, it closed below the double top pattern so seen above and closing indicates sell offs may continue towards the next support of 63.6500.
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