DOLLAR opened at 90.11 today down by 22 paisa against the rupee on account of selling of American currency by banks and exporters. USD closed 3 paise up at 90.09 on Friday against the local currency. Maintained capital outflows from foreign funds against the backdrop of highly unsettled equity markets largely weighed on the currency trade on Friday. On Monday, the usd fall and the euro up by decreasing fear of trade war regains one’s health in risk appetite, with well performing of higher yield currencies.
- Denmark Inflation (HICP) (YoY) enrolled at 0.5%, below expectations (0.7%) in February.
- Netherlands, The Manufacturing Output (MoM) registered to -0.4% in January from previous 0.6%.
- Japan BSI Large Manufacturing (QoQ) drop from previous 9.7 to 2.9 in 1Q.
USDINR pair opened with negative bias showed sideways movements and closed around its day high. Found support around its psychological level of 65.0000 if continue positive movements than resistance is seen around 65.3500. Below 65.0000 more correction is expected in it.
EURINR unable to sustain above its short term resistance closed with negative note. If give closing below its strong support of 80.0000 than it may drag towards next support level of 79.7000. On higher side 80.5000 is immediate resistance.
GBPINR showed sideways to positive movements and closed with partial gain. For upcoming session if sustains above its resistance level of 90.5000 than more positive movements were expected in it, where as 90.0000 is act as support mark.
JPYINR after volatile session closed with loss around its intraday resistance. Positive movements were seen in particular currency pair if give breakout from its immediate resistance level of 61.2500. On lower levels 61.0000 is support for it.
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