Against the US dollar, the Indian rupee opened flat at 72.0300 as gains in the domestic equity market and resumption of US-China trade talks in October strengthened investor sentiments. Besides, a higher opening in domestic equities supported the local unit. The dollar was higher against haven currencies and lower against higher-yielders early Friday in Europe, holding gains made Thursday in broad rally in risk assets after signs of robust job creation in the U.S. last month.
- US: Headline nonfarm payrolls seen at +150k.
- China, Russia pledge to deepen military cooperation.
- China cuts Reserve Ratio Rate by 0.50%.
- Canada: Labour market likely to create 15k jobs in August.
- BoE/TNS survey: Longer-term inflation expectations at 3.1% vs. 3.8% in May.
USDINR unable to sustain above its support levels closed on lower note. Currency pair continue its bearish movements if able to sustain below 72.0000 mark and next find support around 71.5000.
EURINR opened with negative bias showed bearish movements closed with loss. 79.0000 is act as strong support on lower levels sustaining below this level it may continue bearish rally towards 78.8000.
GBPINR showed bearish movements and closed around its support. If able to continue negative movements in upcoming session then 88.1000 is seen as support below which it is more bearish.
JPYINR after negative opening showed sideways to bearish movements closed with negative bias. Sustaining below support level of 67.0000 currency pair give negative breakout and drag towards next support zone of 66.7000.
(Click to submit your details) Just one step to get the best trading tips and Recommendation.