Against the US dollar, rupee opened on weak note at 71.5500 amid unabated foreign fund outflows and cautious opening in domestic equities. Concerns about US-China trade spat kept market participants edgy.
The dollar struggled to make headway in cautious trade, as concerns over the protracted trade dispute between the U.S. and China and the knock-on effects on the global economy saw bond yields continue to slide.
- RBA to leave rates unchanged on Tuesday.
- Australia: Q2 Construction activity fell -3.8%.
- China-US 10-yr yield spread hits highest since December 2017.
- China’s debt level stabilized in Q2, more room for fiscal policy boos.
- Japan stocks seen up 5% in 2019 despite US-China trade woes.
USDINR showed positive movements closed around its psychological level.
Currency pair shows bullish rally if able to sustain above 72.0000 mark and find next resistance around 72.5000. On lower levels 71.7000 is support for it.
EURINR after negative opening showed correction and closed around its resistance.
80.2000 is seen as immediate resistance zone for the currency pair sustaining above this mark it may find resistance near 80.6000.
GBPINR found resistance on higher levels showed correction closed with flat note.
If able to sustain above its support zone of 87.7000 currency pair continue bullish movements and find resistance around 88.7000.
JPYINR after positive movements found resistance and closed around its support.
Now, 68.0000 is act as immediate support breakout below this mark currency pair shows bearish movements towards 67.7000.
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