On Friday, The Indian rupee appreciated by 4 paise to open at 68.8200 and throughout the week hovered in the range of 68.4075 and 69.2100 against the US dollar on rise in demand for the greenback from importers and sell-off in domestic equities. Apart from that, strengthening of the greenback against key currencies and rising crude oil prices in the international market also kept the rupee under-pressure.
- Japan Manufacturing output falls at fastest pace in almost three years amid sluggish demand
- Sterling edged up on news that Britain could leave the European Union without a Brexit deal at a slightly later date.
- Euro was a tad lower, extending losses into a second session after dipping one-third of a percent overnight.
- UK house prices grew by 1.7% in the year to January 2019.
- Consumer price inflation, UK was 1.8% in February 2019.
- Japan exports fall for third month on waning external demand, raises economic risks.
- Australian jobless rate hits near eight-year low, tempering rate cut bets.
- Eurozone flash manufacturing PMI plunges to 47.6 in March, 71-month lows.
- German flash manufacturing PMI hits 6-year lows of 44.7 in March, EUR drops sharply.
USDINR last week showed sideways to positive movements and form strong consolidation on daily charts if able to give breakout in upcoming week then continue bullish rally towards its strong resistance level of 72.8000. On lower levels if correction occurs then 70.6000 is act as support for it.
EURINR showed sideways movements throughout the week closed around its resistance on daily charts if sustain above it then it may shows positive movements and find resistance near 83.0000 mark above which it is more bullish. Downward side 81.5000 is act as strong support for it.
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