The rupee on Friday fell by 18 paise to close at 69.46 against the US currency on strengthening of the greenback in overseas markets and rising crude oil prices. Moreover, weakened Asian currencies also added to the pressure on the domestic unit. However, gains in domestic equities supported the rupee and capped its losses to some extent. Meanwhile, The yield on benchmark 10 year bonds rises 4 bps to 6.97 per cent, heading for a fourth straight weekly drop after RBI’s “accommodative” stance from “neutral” and cut 25 bps interest rate.
- Mexican peso jumps on U.S.-Mexico deal, yuan dips to 2019 lows.
- The New Zealand dollar was the top performer this week while the US dollar lagged. The RBNZ became the first major central bank to lower rates in this round of easing and suddenly it looks like it’s ahead of the curve.
- USD/CAD Higher After US and Canadian Jobs Report.
USDINR last week opened with negative bias after that shows sideways movements closed with negative bias. If sustain below psychological level of 70.0000 then it may continue bearish movements and find support around 69.2000 mark. On higher levels 70.3000 is strong resistance for it.
EURINR after negative opening found support on lower levels and showed positive movements closed around its resistance level on daily charts. If able to sustain above 78.6000 mark in upcoming week then currency pair shows more bullish movements towards 79.5000. On lower levels 78.0000 is act as strong support for it.
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