The Indian Rupee slipped 28 paisa and opened at 67.5125 and throughout the day traded in range of 67.7275 and 67.5125 against the US dollar following broad strength in the dollar against its major crosses and uptick in global crude oil prices. However, market participants will be keeping an eye on inflation and industrial production number that will be released earlier next week. On contrary in early trade dollar rebounded, although it was still hovering near three-week lows after sliding in the past few days.
• Germany Industrial Production n.s.a. w.d.a. (YoY) came in at 2% below forecasts (2.8%) in April.
• China Trade Balance USD below forecasts ($31.9B) in May: Actual ($24.92B).
• France Industrial Output (MoM) below forecasts (0.3%) in April: Actual (-0.5%).
USDINR open with positive bias showed positive movements closed with gain.
Found resistance on psychological level of 68.0000 showed correction, if able to sustain above it than more bullish movements seen in it.EURINR unable to sustain on higher levels after correction closed with flat note.
79.3000 is immediate support zone for the currency pair if sustain below it than it may drag towards next support level of 79.1000.
GBPINR showed positive movements but in last trading hours drag down closed with gain.
More bullish movements were seen in it if able to sustain above psychological level of 91.000. On lower levels 90.5000 is support for it.
JPYINR showed bullish movements throughout the session closed with positive note.
On higher levels currency pair has strong resistance of 62.2000 above which it may continue its bullish rally. Contrary find support around 61.5000.
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