On Friday, the Indian opened higher by 12 paise at 71.9000 against US Dollar vs. previous close 72.0250/$. The yield on the 10-year Indian government bond was at 6.52% compared with its previous close of 6.52%.
On the international front, US and China are getting close to a trade agreement, White House economic adviser Larry Kudlow reportedly said, citing what he called very constructive talks with Beijing about ending a 16-month trade war.Fundamental News
- U.S. President Donald Trump and Chinese leader Xi Jinping were widely expected to sign the deal at the Asia-Pacific Economic Cooperation summit in Santiago, but Chile canceled the event in late October due to domestic unrest.
- PBOC unexpectedly extended loans through its medium-term lending facility (MLF) on Friday.
- Australia: Employment falls for the first time in more than three years.
- RBNZ leaves rates unchanged at 1.00% disappoints the doves – Kiwi rallies hard.
- UK employers’ hiring plans lift off 18-month low.
- China’s full opening-up of its financial sector to help stabilize Yuan in long term.
- Hong Kong’s civil unrest and chaos enters a fourth day this Thursday.
- German Prelim GDP expands +0.1% in Q3 vs. -0.1% expected.
USDINR showed bullish movements last week found resistance on higher levels and closed around it. If able to sustain above 72.0000 mark in upcoming week then currency pair continue bullish rally towards resistance zone of 73.0000. On lower levels 71.0000 is act strong support for it.
EURINR found support on lower levels showed positive movements and closed around its resistance zone. Now, psychological level of 80.0000 is seen as immediate resistance, sustaining above this mark it may continue bullish movements. On downward side 78.5000 is seen as support zone.
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