The Indian rupee appreciated by 38 paise to open at 70.4775 and hovered in the range of 70.4900 and 69.9850 against the US dollar, while bond yields were at their lowest levels since early May, as most Asian markets rallied following the US Federal Reserve’s comments, helping boost appetite for riskier assets.
On the flip side, dollar steadied following a drop in the previous session against major Asian peers after dovish comments by Federal Reserve Chairman Jerome Powell, who said interest rates were now close to the “neutral” level.
- United Kingdom M4 Money Supply (YoY) climbed from previous 0.9% to 1% in October.
- Germany Unemployment Rate s.a. below forecasts 5.1% in November: Actual 5%.
- Brazil Inflation Index/IGP-M came in at -0.49%, below expectations -0.47% in November.
USDINR open with negative bias showed bearish movements closed with loss. If able to sustain below psychological level of 70.0000 in upcoming session then continue negative movements towards 69.5000.
EURINR open with partial gain unable to sustain on higher levels closed with negative note. Currency pair continues its bearish movements if able to sustain below its immediate support level of 79.7000 and find next support near 79.5000.
GBPINR showed negative movements after opened with partial loss and closed with negative bias. Now, 89.3000 is act as strong support zone for the currency pair if breaks it then more bearish movements can be seen in it towards 89.0000.
JPYINR after negative opening showed bearish movements closed with loss. Sustaining below 62.0000 mark in upcoming session take it towards dipper support zone of 61.5000 below which it may shows more bearish rally.
(Click to submit your details) Just one step to get best trading tips and Recommendation.