Indian Rupee Price News and Forecast: USD/INR steps back from one-week high amid optimism surrounding China PMI
|USD/INR technical analysis: Rupee looks south as India's GDP hits 6-year low
UThe path of least resistance of the Indian Rupee is to the downside.
The Indian unit rose well above 71.60 on Friday, confirming a falling channel breakout on the USD/INR's 4-hour chart. The pattern indicates the pullback from the Nov. 14 high of 72.24 has ended and the rally from the Nov. 4 low of 70.549 has resumed. Read more ...
USD/INR steps back from one-week high amid optimism surrounding China PMI
With the Asian markets cheering China data, USD/INR pays little heed to the previously published India GDP while taking rounds to 71.70 as Indian markets open for Monday’s trading session.
China’s November month factory activity numbers defy recent doubts over the strength of the world’s second-largest economy. As a result, markets in Asia turn risk-on while also ignoring clues of a delay in the trade talks between the United States (US) and China. Read more ...
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.