On Friday, the Indian rupee appreciated by 10 paise to open at 69.2900 and throughout the week traded in the range of 68.8000 and 69.6675 against the US dollar, driven by weakening of the greenback in overseas markets and a higher opening in domestic equities. On the flip side, dollar remained on track for a second-straight weekly win despite rising investor expectations that the Federal Reserve will keep monetary policy tightening on hold following a mixed U.S. jobs report.
- U.S. and Chinese trade negotiators will continue their talks next week by video conference as they try to reach a deal to resolve a nine-month-old trade war
- UK PM Theresa May says government is prepared to seek changes to Brexit Declaration
- The Canadian economy unexpectedly shed 7,200 jobs in March.
- The Reserve Bank of India (RBI) cut its repo rate by 25 basis points to 6%.
- German factory orders slump 4.2% in Feb, a negative surprise.
- UK business activity declines for the first time in more than two-and-a-half years.
- China Caixin services PMI hits 14-month high in March due to stronger demand.
- Japan’s Wages Unexpectedly Fall in February in Blow to Inflation.
USDINR last week showed correction on starting sessions, found support on lower levels gave positive movements and closed with partial loss. Now, immediate resistance for the currency pair is seen around 69.7000 breakout above this mark it may shows bullish movements towards next resistance zone of 70.5000.
EURINR after negative movements found support on lower levels and closed around its crucial resistance zone of 78.6000, if able to sustain above it in upcoming week then bulls may active in particular currency pair and take it towards next resistance level of 79.5000. On lower levels 77.6000 is act as strong support for it.
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