The Indian Rupee deprecated by 23 paise to open at 72.4075 and throughout the day hovered in the range of 72.7625 and 72.3200 against US dollar due to strengthening of greenback against major Asian peers. China had called off planned trade talks with the US in the wake of a new round of duties which also weighed on the Rupee. Moreover the losses in domestic bourses also put pressure on the Rupee. On the flip side, dollar traded lower against major Asian peers while Sterling remained in focus, as a majority Prime Minister Theresa May’s cabinet supported a Canada-style trade deal with the European Union.
- United Kingdom CBI Industrial Trends Survey – Orders (MoM) came in at -1, below expectations 5 in September.
- Singapore Consumer Price Index (YoY) increased to 0.7 in August from previous 0.6.
- United States CFTC Oil NC net positions: 530.4K vs previous 543.8K.
USDINR opened with partial gain sustain on higher levels closed with positive bias.
Now, immediate resistance for the currency pair is seen around 73.0000 level above which more positive movements expected in it.
EURINR showed positive movements throughout the session closed with positive note.
Currency pair continue its bullish movements if sustain above its resistance zone of 85.7000 and may find next resistance near 86.0000.
GBPINR opened with negative bias showed correction closed with flat note.
95.8000 is act as resistance level for particular currency pair if break in upcoming session then bullish rally can be seen in it towards 96.0000 levels.
JPYINR showed sideways to positive movements closed with gain.
If it is able to sustain above immediate resistance of 64.6000 then it may continue bullish movements toward 65.0000 level.
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