The Rupee weakened 15 paise to 66.96 against the US dollar in early trade at the Interbank Foreign Exchange today following increased demand for the American currency from banks and importers.
German Producer prices in July 2016 of producer prices for industrial products fell by 2.0% compared with the corresponding month of the preceding year. In June 2016 the annual rate of change all over had been –2.2%. Compared with the preceding month the overall index rose by 0.2% in July 2016. In July 2016 energy prices decreased by 6.2% compared with July 2015, prices of intermediate goods by 1.8%.
(+0.4% in June and in May).
- Dollar edges up, but on track for weekly loss.
- German Producer prices in July 2016: –2.0% on July 2015.
- United Kingdom Public Sector Net Borrowing came in at £-1.472B, below expectations (£-1.2B) in July.
- UK Public sector finances decreased by £3.0 billion in the current financial year-to-date.
USDINR showed pull back from support levels on daily charts and closed also higher.
If it sustains above 100 day EMA of 67.2000 then it may soon surpass the higher resistance of 67.3000 in coming session. On lower side, 67.0000 is seen as key support.
EURINR continued the bull rally so observed in last few sessions and closed strong.
On daily charts, 76.0000 is seen as important resistance holding above which can lead it higher while any correction may find support around 75.8000-75.6000.
GBPINR extended bulls for the third session after violating the crucial support level on daily charts.
Now, it may face resistance around the trend line coming from recent highs i.e. 88.4000 while 87.3000 is seen as major support from current levels.
JPYINR opened flat and then moved with positive momentum to close the session in green territory.
If the currency pair is able to hold above 67.0000 mark then it may lead towards the next resistance of 67.4000 while any closing below 66.5000 can weaken the counter.
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