The rupee on Monday opened at 10 paise down at 64.65 against dollar on account of buying of American currency by banks and corporates. The dollar was steady in morning trade, holding near a three-month high versus a basket of currencies, after the latest batch of US data backed expectations for the Federal Reserve to raise interest rates as soon as in December. China’s yuan inched up against the US dollar by midday on Monday, underpinned by corporate dollar sales.
• European Monetary Union Markit PMI Composite above forecasts (55.9) in October: Actual (56).
• Germany Markit Services PMI came in at 54.7 below forecasts (55.2) in October.
• France Markit PMI Composite came in at 57.4 below forecasts (57.5) in October.
USDINR pair started the day with gap up opening and hover near to its important resistance mark, closed with good gain.65.0000 is psychological resistance level if it manage above this then good upside movement can be seen. 64.7000 is crucial support level.
EURINR pair opened the day with some gain but unable to hold its higher level and drag down, settled the day with loss.75.2000 is immediate support level below this downward movement can be seen. 75.5000 is major resistance level.
GBPINR pair opened with gap up and continued its northward journey, closed the day with positive note.Now, it has major resistance level of 85.2500 above this positive movements were expected. 84.8000 act as support level.
JPYINR pair has given short covering from its lower level and settled the day near to its resistance level. For upcoming session if it breaks 57.0000 then bounce back can be expected. 56.7500 is important support level.
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