The rupee was trading 20 paise higher at 68.12 against dollar in the early trade on today on account of selling of Amercian currency by bank and exporters. The US dollar nursed widespread losses on Thursday after President-elect Donald Trump’s long-awaited news briefing provided scant clarity on future fiscal policies, disappointing bulls wagering on major stimulus. Yet neither did Trump mention possible tariffs against Chinese exports which is a relief for Asian share markets.
• Italy Industrial Output w.d.a (YoY) came in at 3.2%, above forecasts (2%) in November.
• Germany Real GDP Growth registered at 1.9% above expectations (1.8%).
• Sweden Consumer Price Index (MoM) rose from previous 0% to 0.5% in December.
USDINR faced stiff resistance at higher levels and dropped in the last session to close on weak note.
It has been constantly facing hurdle around 68.5150 and is unable to surpass it. On further falling, the currency pair will find 68.0000 as strong support.
EURINR is trading in a volatile manner since last few sessions but is sustained on higher levels.If the pair sustains above 72.6500 in the coming session then it may move towards the mark of 73.0000 whereas 72.3000-72.0000 is seen as support range for it.
GBPINR after finding support in the last two sessions gained momentum and closed on a strong note.Now, 84.0000-84.2000 is seen as strong resistance range ahead whereas 83.1000 may again act as good support for the pair.
JPYINR opened gap up and sustained on higher levels for the entire session to close on a strong note.On daily chart, 60.0000 may act as psychological mark for the pair in the coming sessions while 59.2000 will now act as strong support for the pair.
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