The Indian rupee depreciated by 18 paise to open at 72.8000 against the US dollar. Though, the rupee pared early losses but still trading in negative zone on account of increasing demand for the dollar from importers as crude oil prices hit a four-year high. Moreover, strengthening of domestic bourses from early lows capped the rupee’s losses.
Against major Asian peers, dollar traded lower as market participants keep their eye on the upcoming Federal Reserve policy meeting, at which it was widely expected to deliver its third rate hike this year.
- Austria Gross Domestic Product (QoQ) dipped from previous 0.7% to 0.6% in 2Q.
- Sweden Producer Price Index (YoY) rose from previous 8.4% to 9.3% in August.
- Germany Wholesale Price Index (MoM) came in at 0.3%, above forecasts 0.2% in August.
USDINR found resistance on higher levels closed with partial gain.
73.3000 is act as strong resistance zone for the currency pair if able to break in upcoming session then 73.5000 is seen as next resistance for it.
EURINR showed sideways to positive movements closed with gain.
Now, bullish movements can be seen if currency pair sustain above its immediate resistance level of 86.5000. On lower levels 85.7000 is act as strong support.
GBPINR found support on lower levels closed around its day high
Sustaining above psychological level of 96.0000 shows strength in particular currency pair and may find resistance near 96.8000 level.
JPYINR showed sideways movements and closed with flat note.
If continue to trades above 65.0000 level in upcoming trading session then bullish rally can be seen in it towards 65.5000 level.
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