Against the US dollar, the Indian rupee opened flat at 71.7350 and throughout the day hovered in the range of 71.8475 and 71.6500 amid positive opening in domestic equities and fresh foreign fund inflows. Investors were cautious ahead RBI’s Monetary Policy Committee outcome scheduled for February 7. Dollar settled near 2 week high against its major Asian peers as U.S. President Donald Trump’s State of the Union speech failed to surprise currency traders with markets more focused on the near-term outlook for monetary policy.
- Germany Factory Orders n.s.a. (YoY) dipped from previous -4.3% to -7% in December.
- Indonesia Gross Domestic Product (YoY) came in at 5.18%, above forecasts 5.11% in 4Q.
- South Africa Business Confidence Index declined to 95.1 from previous 95.2.
USDINR showed sideways movements throughout the session closed with flat note.
Currency pair found resistance on higher levels indicates that it may shows correction and find support around its immediate support of 71.5000.
EURINR opened with negative bias and closed around its day low.
Sustaining below 82.0000 mark suggest more selling pressure in particular currency pair and drags towards support zone of 81.3000.
GBPINR after correction unable to sustain on higher levels closed with negative bias.
93.0000 is act as crucial level for the currency pair below this it may continue bearish movements and find next support around 92.5000.
JPYINR opened with positive bias found resistance on higher levels closed with gain.
Currency pair moved in range of 65.7000-65.2000 from last two trading session breakout from this range may decide next trend for it.
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