The rupee depreciated by 45 paise to 70.4975 against the United States (US) dollar in early trade amid US-China trade related concerns and rising crude oil prices. Moreover, foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit. On the flip side, the dollar hit a four-month high against the Chinese yuan but was lower against the yen and Swiss franc early Monday in Europe as the worsening trade conflict between the U.S. and China prompted bids for ‘safe-haven’ assets.
- Yen firms but yuan, Aussie slip as U.S.-China trade war heats up.
- Indonesia to record first trade deficit in three months in April.
- China, Singapore renews bilateral currency swap agreement.
- India: April CPI likely to rise to 2.99%.
- Norway: Q1 GDP slips to 0.3%.
- Japan’s Suga: No change to government plan to raise sales tax in October.
USDINR showed bullish movements after positive opening closed with gain. Now, 71.0000 is act as resistance zone for the currency pair if able to sustain above this mark than shows more bullish movements.
EURINR opened with positive bias showed bullish movements closed around its resistance. If continues positive movements then psychological level of 80.0000 is seen as strong resistance for particular currency pair.
GBPINR showed positive movements throughout the session closed with bullish note. Sustaining above 92.0000 mark in upcoming session give strength to currency pair and find resistance around 92.5000. On lower levels 91.7000 is immediate support.
JPYINR continued bullish movements after breakout from its resistance closed with gain. Currency pair shows more bullish movements if able to sustain above its immediate resistance of 64.7000 and find next resistance near 65.0000.
(Click to submit your details) Just one step to get best trading tips and Recommendation.