The Rupee opened depreciated 15 paisa at 65.9425, made a fresh thirteen month low and hovering between 66.0950 and 66.0000 in today’s trading hour against the dollar. Strengthening of dollar against other currencies overseas and increased demand for the dollar from importers also put pressure on the domestic unit the dollar was higher against basket of currencies on account of the U.S treasury notes rose to February levels and interest rate expectations offset trade war worries.
- Canadan Bank Consumer Price Index Core (YoY) registered at 1.4%, below expectations (1.5%) in March.
- Mid-month Inflation of Brazil below forecasts (0.25%) in April: Actual (0.21%).
- India FX Reserves, USD rose from previous $424.86B to $426.08B.
- Gross Wages (YoY)of Hungary declined to 11.9% in February from previous 13.8%
USDINR opened above its resistance level sustain on higher side and closed near it. If maintain above psychological level of 66.0000 then more bullish movements were expected in it and may find resistance around 66.5000.
EURINR opened with some gain showed correction and closed with partial loss. Currency pair unable to sustain on higher levels trades around its short term support, if give breakout in upcoming session then next support is at 81.0000.
GBPINR opened with negative bias and closed around its psychological level. More negative movements were seen in next trading session if trades below 93.0000 after that it may find support near 92.7000-92.5000.
JPYINR showed strength after positive opening and closed around its day high. 61.7000 is immediate resistance level for the currency above which it may shows more bullish movements and resistance is seen around 62.0000.
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