Against the US dollar, the Indian rupee opened flat at 69.3975 and throughout the day traded in the range of 69.4000 and 69.0050 on increased demand for the greenback from importers and banks. However, sustained foreign fund inflows supported the rupee and restricted the fall. Investors are awaiting Q4 March 2019 earnings from India Inc which kick off from tomorrow, 12 April 2019. Voting for the first phase of the 2019 Lok Sabha elections is being held today.
- China’s CPI up 2.3% y/y in March, vs prev 1.5%, the highest in 5 months, in line with expectations – PPI up 0.4% y/y, vs prev 0.1% growth.
- US Dollar negative bias still holds after ECB and Fed minutes.
- Euro, Sterling Inch Higher After Brexit Postponement.
- IMF warns of ‘dangerous’ results from Trump’s pressure on Fed.
USDINR opened with flat note showed bearish movements closed with negative bias. Currency pair continues its negative movements if able to sustain below immediate support of 69.0000 and find next support around 68.5000.
EURINR showed negative movements and closed around its psychological level. Sustaining below 78.0000 mark in upcoming session currency pair may shows more bearish movements towards 77.5000 level.
GBPINR unable to sustain on higher levels closed around its support zone. If continues negative movements then immediate support for the currency pair is seen around 90.3000 below which it may drag towards psychological level of 90.0000.
JPYINR after positive opening found resistance and showed bearish movements closed with loss. Now, 62.0000 is seen as strong support level for the currency pair breakout below this mark it may continue negative movements.
(Click to submit your details) Just one step to get best trading tips and Recommendation.