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 was bounce back from its lower level and closed the day with good gain It has major resistance of 65.1000 level above this upside movement can be seen. 64.8000 is immediate support level.
EURINR pair opened with negative note and followed its down trend, closed the day with negative note.Now 76.2000 is important support level below this it can move further towards next support level. 76.6500 is crucial resistance.
GBIINR pair showed some recovery for lower level but i unable to hold upper level came down, conclude the day with loss. If its price manages above resistance of 86.2000 then up side movement can seen. 85.7000 is crucial support zone.
JPYINR pair opened with negative sentiment and hover in tight range, settled the day near to its day high.For upcoming session if its price manages above 58.1500 level then good upside movement can seen. 57.9000 is major support zone.
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