After a brief overnight pause, the rupee was again caught in a downward spiral and slipped by 12 paise to 64.12 against the US dollar today on fresh demand for the American currency from banks and importers amid persistent foreign capital outflows.
The dollar consolidated gains on Thursday, a day after posting its biggest single-day rise in six weeks as markets looked forward to US inflation data that will determine the near term trading outlook for the struggling greenback.
- Ireland Gross Domestic Product (YoY) came in at 5.8%, above expectations (5.75%) in 2Q.
- European Monetary Union Trade Balance n.s.a. above expectations (€21.4B) in July: Actual (€23.2B).
- Turkey Current Account Balance above expectations ($-5.271B) in July: Actual ($-5.121B).
USDINR moved in the same range as of previous session and closed ona flat note.On daily chart, 64.0000 will continue to act as strong support for it whereas 64.3000 is seen as immediate resistance.
EURINR opened with positive bias and continued the up move for the session.On lower side, 76.4000-76.1500 is seen as support range while 77.0000 may continue to act as strong resistance.
GBPINR opened with positive bias breaching the important resistance and gave positive breakout.Strong closing indicates that it may move towards the next resistance of 87.8000 whereas 87.0000 is seen as support.
JPYINR gradually dropped down during the session and closed on weak note.Strength can be observed if it sustains above the mark of 58.0000 while 57.2500 is seen as near support.
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