The Indian Rupee depreciated by 26 paise to open at 70.8950 but it wiped off its losses and was trading in range of 70.8950 and 70.5200 against US dollar on account of foreign fund inflows. However, dollar’s strength against other currencies overseas and rising crude oil prices capped the rupee’s gains.
On the flip side, dollar plunged to more than one-week lows against major Asian peers as relief over the U.S.-China trade truce gave way to concerns that a full resolution to the trade conflict will be difficult to reach.
• Greece Gross Domestic Product n.s.a (YoY) up to 2.2% in 3Q from previous 1.8%.
• European Monetary Union Producer Price Index (MoM) came in at 0.8%, above expectations 0.5% in October.
• Australia Current Account Balance registered at -10.7B, below expectations -10.2B in 3Q.
USDINR showed sideways to positive movements closed with partial gain.
Currency pair found resistance around 71.0000 mark if able to breaks it in upcoming session then next resistance is seen near 71.2000.
EURINR openwith positive bias showed bullish movements closed with gain.
If sustain below its strong resistance zone of 81.0000 then continue negative movements towards its support level of 80.3000.
GBPINR open with partial gain showed bullish movements closed with positive note.
Now, 91.0000 is act as strong resistance level for the currency pair sustaining above this mark continue positive movements towards 91.3000.
JPYINR showed bullish movements after positive opening closed around its resistance.
63.0000 is act as strong resistance mark for the currency breakout above this level continues bullish movements and finds next resistance near 63.3000.
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