The Rupee opened at 66.6825 and moved between 66.6750 and 67.1850 in today’s trading hour against the dollar. Rising oil prices, surge in commodity prices, trade deficit worries, deteriorating external finances and the banking mess are all adding to the rupee’s cup of trouble. The dollar hit a 4 month high against basket of currency on account of rise in benchmark U.S. Treasury yield while mixed picture from business surveys failed to help the euro before a European Central Bank meeting.
- Austria Industrial Production (YoY) is 5.1% (February) from previous 6.1%.
- France Consumer Confidence Actual is at (101) above expectations of (100) in April.
- Industry Activity Index (MoM) of Japan in line with forecasts (0.4%) in February.
USDINR open with positive bias and continued bullish movements closed around day’s high. Broke resistance level with high volume, suggesting more bullish movements in it. On lower levels psychological level of 67.0000 is support for it.
EURINR showed positive movements and closed above its resistance level. If able to sustain above 81.9000 marks than it may shows more strength on higher side, otherwise it may drag towards its support level of 81.7000.
GBPINR found strong support on lower levels closed with positive note. Now, 93.6000 is act as support for it if sustain below this level than correction can be seen towards 93.2000. On upward side 94.0000 is immediate resistance.
JPYINR unable to sustain on lower levels closed around its resistance mark. 62.0000 is seen as major resistance zone for the currency pair below this level it may again shows correction and find support around 61.4000.
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