Indian rupee opened lower by 18 paise at 73.95 per dollar versus Friday’s close 73.77. Rupee is expected to remain under pressure weighed by a further rise in long-term US Treasuries following non-farm payroll data. US Treasuries tumbled for the third day after mixed US jobs data which showed that the unemployment rate declined to a 48-year low of 3.7%. Average hourly earnings rose by 2.8% on year, in line with projections. The Euro is under pressure as Italian equity indices sharply sell-off, falling 0.4% on a day to trade well below 1.1500. At the same time, benchmark US Treasury yields stabilized around 3.23%.
- Euro and Sterling weaken as European politics remain key.
- Yuan hits 7-week low after PBOC cuts reserve ratio, frees up liquidity.
- The Australian dollar continues to languish at multi-year lows.
- German Industrial Production in August 2018: -0.3% seasonally adjusted on the previous month.
USDINR open with partial gain showed positive movements and closed with gain.
74.5000 is seen as strong resistance zone for the currency pair sustaining above which may lead it towards next resistance level of 74.7000.
EURINR showed sideways to positive movements closed with partial gain.
Currency pair unable to sustain above 85.5000 if continue to trades below this level then it may shows correction towards 85.0000 mark.
GBPINR after positive opening showed correction and closed with bullish note.
Now, opening above 97.0000 level in upcoming session give strength and continue bullish rally towards resistance level of 97.3000.
JPYINR showed bullish movements throughout the session and closed with positive bias.
Currency continue its bullish movements towards psychological level of 66.0000 and abve which it may shows more positive rally.
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