The Indian Rupee rose on Monday primarily on back of weakness in the dollar against its major crosses ahead of important FOMC policy statement that was scheduled for release yesterday. The Federal Reserve in its policy statement held rates unchanged and held out hope that weak inflation will edge higher. The Fed Chairman hinted that that the central saw no compelling reason to consider a rate cut in response to weak inflation, thereby prompting a modest selloff in equity markets and pushed bond yields higher.
- French manufacturing sector stabilizes in April.
- Firm data pushes euro higher; dlr resumes fall.
- EZ Manufacturing sector continues to contract during April.
- Swiss retail trade turnover fell in March 2019.
- Spanish manufacturing sector expands at fastest rate for three months.
- Hong Kong Interbank Rates Seen Staying High, Buoying Dollar.
USDINR after correction found resistance on higher levels closed with negative bias. Now, sustaining below immediate support of 69.5000 currency pair continue its bearish rally towards strong support of 69.0000.
EURINR showed bearish movements and closed around its support. Currency pair shows more bearish movements if able to sustain below support zone of 78.0000 and drag towards 77.7000 level.
GBPINR after positive opening unable to sustain on higher levels closed with partial loss. 91.0000 is act as crucial level for the currency pair sustaining below this mark it may shows correction towards support of 90.5000.
JPYINR opened with negative bias showed bearish movements closed with negative note. If able to sustain on lower levels in upcoming session then it may continue negative movements and find support near 62.0000 mark.
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