The Indian Rupee weakened by 15 paise to open at 72.9150 and hovered in the range of 73.2075 and 72.8275 against the US dollar despite RBI’s plan to purchase government bonds worth Rs 36,000 crore to boost liquidity. Nonetheless, oil prices have continued to push higher, limiting any potential for the Rupee to strengthen. Dollar slipped against Canadian Dollar as the US and Canada reached a framework deal to update the North American Free Trade Agreement and Euro was little down with worries about a rise in Italy’s deficit after the Italian government agreed to set a higher than expected budget deficit target.
- European Monetary Union Unemployment Rate came in at 8.1%, below expectations 8.2% in August.
- United Kingdom Net Lending to Individuals (MoM) came in at £4B, below expectations £4.8B in August.
- Indonesia Inflation (YoY) came in at 2.88%, below expectations 3.3% in September.
USDINR after positive opening showed sideways movements closed with gain.
Closing above its resistance level suggesting more positive movements in it and may find next resistance around 73.5000 level.
EURINR showed strong pull back from its lower level closed with positive note.
Sustaining above 85.0000 level in upcoming session give strength to the currency and take it towards next resistance zone of 85.5000.
GBPINR showed positive movements throughout the session closed above its resistance.
Now, 95.3000 is immediate support for it, if able to sustain above this level then it may continue bullish movements and find resistance around 96.0000.
JPYINR after negative opening showed correction closed with flat note.
64.5000 is act as strong resistance for currency pair below which it is in weak zone and may shows negative movements towards 63.8000.
(Click to submit your details) Just one step to get best trading tips and Recommendation.