Against the US dollar, the rupee opened flat at 69.7525 and hovered in the rannge of 69.6875 and 71.9775 throughout the week amid strengthening of the US dollar against some currencies overseas and foreign fund outflows.On thee flip side, the dollar languished close to one-month lows as investors are worried about renewed U.S.-China tensions impacting trade talks after China on Friday demanded the U.S. Justice Department withdraw charges that allege Chinese officials coordinated a decade-long espionage campaign to steal intellectual property and other data.
- Sterling had climbed to a 10-day peak on Thursday but pulled back from the high after the Bank of England kept interest rates on hold.
- The Australian dollar was flat, after moving away from a near two-month trough, brushed the previous day following tumult in the global markets.
- Japan BoJ Interest Rate Decision meets expectations -0.1%.
- United States Fed Interest Rate Decision meets expectations 2.5%.
- Japan Merchandise Trade Balance Total below expectations ¥-600.3B in November: Actual ¥-737.3B.
- New Zealand Current Account (QoQ) came in at $-6.15B below forecasts $-5.85B in 3Q.
- Italy Trade Balance EU dipped from previous €1.183B to €0.744B in October.
- France Gross Domestic Product (QoQ) in line with expectations 0.4% in 3Q
USDINR after breakout from its short term support level showed negative movements throughout the session and closed around its next support zone. If continue bearish rally in upcoming week then it may drag towards 69.0000 level. On higher levels 71.0000 is act as strong resistance zone.
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