Indian Rupee Price News and Forecast: USD/INR eases from weekly tops, up little around 71.60 region


India: Economy grew 4.5% in Q3 vs. 4.7% expected

The data published by the Ministry of Statistics on Friday revealed that the Gross Domestic Product (GDP) in India expanded by 4.5% in the quarter ending September following the %5 growth recorded in the second quarter and fell short of the market expectation of 4.7%

Further details of the report showed that the manufacturing sector and the farming sector grew by 1% and 2.1%, respectively, in the same period. Read more...

 

USD/INR Technical Analysis: Eases from weekly tops, up little around 71.60 region

The USD/INR cross built on the previous session's recovery move from near three-week lows and gained some follow-through traction on the last trading day of the week.

Bulls, however, failed to capitalize on the early uptick to fresh weekly tops, albeit the pair has still managed to hold with modest daily gains post-Indian GDP growth figures.

The intraday positive momentum faltered near a resistance marked by the top end of a descending trend-channel, extending through the recent swing high near the 72.35-40 region. Read more...

usdinr

India GDP growth: a six-and-a-half-year low – ANZ

Analysts at Australia and New Zealand Banking Group (ANZ) offered their take on Friday's release of Indian GDP report, which showed a further decelerating in growth to a six-and-a-half-year low level of 4.5% during the July-September quarter.

Key Quotes:

“At 4.5%, India’s Q2 FY20 GDP print was the lowest in 26 quarters. It also marked the sixth consecutive quarter of moderation.” 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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD accelerates decline and nears 1.1200

The US Nonfarm Payroll report’s effects are long gone. The greenback gets attention as stocks eased sharply from intraday highs, still holding in the green, yet undermined by record coronavirus cases in the US.

EUR/USD News

AUD/USD hovering around 0.6920 after a dull day

AUD/USD pair seesawed between gains and losses, settling for a second consecutive day at around 0.6920. Australian PMIs and Chinese services output coming up next.

AUD/USD News

XAU/USD strengthens and rebounds from weekly lows toward $1780

Gold is trading at daily highs, near $1780 after rising $20 from the daily low. The metal dropped to $1757 after the release of the US employment report and then bounce sharply to the upside.

Gold News

Crypto collapse with Bitcoin falling below $9,000 and Ethereum getting close to $220

Most cryptocurrencies are experiencing a significant sell-off after Bitcoin fell below $9,000. BNB/USD has suffered the most with a 4% drop towards $15 and needs to hold $14.8 support. 

Read more

Oil: $40 per barrel has been broken again but there is a lack of conviction at these current levels

WTI has continued to move higher on Thursday but the price action seems pretty lacklustre despite volatility elsewhere. There have been some decent news stories in the past few sessions as it was confirmed OPEC output reached a two-decade low after over compliance from Saudi Arabia. 

Oil News

Forex Majors

Cryptocurrencies

Signatures