The Rupee opened flat at 67.5750 and traded in the range of 67.7750 and 67.4800 against the US dollar following sudden bouts of dollar demand from importers and banks, despite higher domestic bourses and eased in political uncertainty in Italy. Moreover, Currency was also supported as the dollar fell against its major crosses after Q1 preliminary growth number for the US showed that the economy could grow at a slower pace.Though, risk appetite of investors improved after political turbulence in Italy appeared to calm down.
• China NBS Manufacturing PMI came in at 51.9, above expectations (51.3) in May.
• New Zealand ANZ Business Confidence down to -27.2 in May from previous -23.4.
• Japan Industrial Production (YoY) below expectations (3.6%) in April: Actual (2.5%).
USDINR showed sideways to bearish movements closed with partial loss.
Currency pair after correction unable to sustain on higher levels trades around its intraday support, if able to break in upcoming session than 67.2000 is next support mark
EURINR open with positive bias showed correction in last trading hours closed with gain.
Psychological level of 79.0000 is immediate support sustaining above which may take it again towards 79.5000 resistance level.
GBPINR showed sideways to bullish movements closed with partial gain.
If continue positive movements than 90.5000 is act as resistance for it above which it may find next resistance around 90.8000.
JPYINR found resistance on higher levels closed with partial loss.
62.0000 is support level for the currency pair if open below this mark than it may drag towards next support level of 61.7000. On higher side 62.4000 is resistance for it.
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