The rupee rebounded 25 paise to open at 68.4675 against the US dollar in early trade on Thursday, in tandem with other emerging market currencies after Federal Reserve chief Jerome Powell bolstered expectations of a rate cut later this month. However, rising crude oil prices capped the gains. On domestic macro front, an RBI working group has suggested calibrated extension of forex market trading hours from 9:00 IST to 21:00 IST as it would help in gauging demand and potential benefits.
- Asian stocks follow Wall Street higher despite US-China trade woes.
- NZ: Monthly Inflation Gauge up 0.3% in June.
- US mull sanctions relief for N. Korea nuclear freeze.
- Australia: Lowest annual housing finance result since 2009.
- UK has failed to make meaningful progress towards a free trade deal with US.
USDINR opened with negative bias showed correction and closed with loss.
Currency pair continue bearish movements in upcoming session if able to sustain below support zone of 68.3000 and find next support near 68.0000.
EURINR showed bullish movements throughout the session closed with gain.
On higher levels strong resistance for the currency pair is around 77.5000 below which it may shows negative movements towards 77.0000.
GBPINR after positive opening showed bullish movements closed with gain.
Sustaining above 86.0000 mark currency pair shows more positive movements and find next resistance around 86.5000. On lower levels 86.0000 is immediate support.
JPYINR after positive opening showed sideways movements closed with positive note.
If able to sustain above immediate resistance of 63.5500 currency pair shows positive movements and find resistance near 64.0000.
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