The Indian Rupee plunged by 25 paise to hit a three-week low to open at 67.9975 and hovered in the range of 68.1175 and 67.9200 against the US dollar in early trade on strong demand for the greenback amid sustained foreign capital outflows. However, Dollar loses further ground on the day amid trade concerns as U.S. President Donald Trump announced he would impose tariffs on $50 billion of Chinese goods.Though there is unclarity in what goods will be impacted and when the tariffs will go into effect.
• Italy Consumer Price Index (EU Norm) (MoM) below expectations (0.4%) in May: Actual (0.3%).
• European Monetary Union Trade Balance s.a. below expectations (€20.2B) in April: Actual (€18.1B).
• China House Price Index remains unchanged at 4.7% in May.
USDINR opened with gap up note and throughout the day traded with positive sentiments.
If currency pair breaks its immediate resistance mark on intraday charts then upward movement can be seen towards 68.1700 level
EURINR opened with negative bias showed bearish movements closed around its intraday support.
If currency pair breaks its immediate support mark on intraday charts than correction can be seen in it and drag towards 78.7000 level.
GBPINR found support on lower levels showed correction closed with negative note.
If currency pair open above its immediate resistance level of 90.5000 then shows some positive movements towards 90.9000. On lower levels 90.1000 is support for it.
JPYINR showed sideways movements after flat opening closed with partial loss.
Currecy pair looks bearish if sustain below its immediate support mark of 61.4000 and find next support near 61.2400. On higher side 61.7100 is resistance for it.
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