The Rupee largely shrugged off the high volatility in stocks and ended steady at 64.15 against the US dollar even as investors reacted to US political turmoil and terror attack in Spain.
Most Asian currencies were subdued on Friday, while the Philippines peso hit a fresh 11-year low, as markets shied away from riskier assets amid rising doubts about U.S. President’s ability to push through his economic agenda. Investors fretted over the implications for Trump’s plans for tax cuts and infrastructure spending after the president disbanded two high-profile business advisory councils on Wednesday.
• United States Michigan Consumer Sentiment Index registered at 97.6 above expectations (94) in August.
• Canada Bank of Canada Consumer Price Index Core (MoM) below forecasts (0.1%) in July: Actual (-0.1%).
• India FX Reserves, USD rose from previous $393.45B to $393.61B..
USDINR traded on lower levels than previous close and settled on lower note.
It has been constantly facing resistance at higher levels and further slippage may find 64.0000 as important support whereas 64.4000 is seen as immediate resistance.
EURINR opened higher than previous close and sustained at such levels.
It has been hovering in a range and any closing above 75.6500 can strengthen the pair while 75.1000 is seen as good support.
GBPINR traded in the same range as of previous session and closed on a flat note.
If the currency pair slips below the near support of 82.6500 then it may further drag towards deeper supports while 83.0000-83.3000 is seen as immediate resistance range.
JPYINR opened gap up and continued the up move throughout the session to close on strong note.
The currency pair is near to the mark of 59.0000 and sustaining above it can strengthen it while 58.5000 will now be seen as important support.
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