Today Rupee opens flat at 67.18 per dollar At currency Market
The Indian rupee opened flat at 67.18 per dollar on Friday versus previous close of 67.17.
Support level of 67/dollar will hold and the trading range is seen between 67.10-67.50/dollar. Yen held steady after appreciating over 1 percent overnight, dollar index pared some of its gains, slipped below 97 mark.
US DOLLAR INDEX (USD)
In spite of the robust release of unemployment claims and existing home sales data from the nation, t he American currency traded lower by 0.2 percent yesterday and closed at 97. 05 levels . The weakness could be attributed to the weak corporate results from the US companies that kept the traders cautious to place any risky bets. Furthermore, according the recent data manufacturing activities in the Philadelphia - region showed an unexpected s lump July’16. This has raised concerns over the health of the economy.
OUTLOOK
Support level of 67/dollar will hold and the trading range is seen between 67.10-67.50/dollar. Yen held steady after appreciating over 1 percent overnight, dollar index pared some of its gains, slipped below 97 mark.
US DOLLAR INDEX (USD)
In spite of the robust release of unemployment claims and existing home sales data from the nation, t he American currency traded lower by 0.2 percent yesterday and closed at 97. 05 levels . The weakness could be attributed to the weak corporate results from the US companies that kept the traders cautious to place any risky bets. Furthermore, according the recent data manufacturing activities in the Philadelphia - region showed an unexpected s lump July’16. This has raised concerns over the health of the economy.
OUTLOOK
Rupee is likely to trade sideways to negative as weak trading in the global markets will govern the trend of the Indian markets and its currency.
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