The Indian Rupee strengthens by 9 paise to open at 69.0025 and swinging in the range of 69.1925 and 68.9625 throughout the session against the US dollar. However, strengthening of the American currency overseas restricted the rupee’s gains. Contrarily, against basket of currencies, dollar was modestly lower as the salvos of a trade war between the China and US began, when US tarrif on $34 billion worth of Chinese goods. Moreover, Market participants turning their attention to the closely-watched US jobs report due later in the day.
• Italy Retail Sales s.a. (MoM) registered at 0.8% above expectations (0.4%) in May.
• Switzerland Foreign Currency Reserves increased to 749B in June from previous 741B.
• United Kingdom Halifax House Prices (MoM) meets forecasts (0.3%) in June.
USDINR showed sideways movements closed with partial loss.
Closing above 69.0000 is still shows some strength in it if able to sustain on higher levels then 69.3000 is act as strong resistance. On downward side 68.8000 is support mark
EURINR showed sideways to positive movements closed with positive note.
Sustaining above 81.0000 resistance mark may take it towards next resistance level of 81.2000. On lower levels 80.7000 is immediate support for it.
GBPINR showed partial correction after negative opening closed with loss.
If continue positive movements then 91.7000 is strong resistance mark for it above which it may find next resistance around 92.0000 levels.
JPYINR showed sideways to positive movements after some correction closed with flat note.
Currency pair again found support on lower levels suggesting positive strength in it and may continue bullish movements above its resistance level of 62.7000.
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