Globally, the EUR/USD pair witnessed significant
selling above 1.1350 levels. EUR/USD pair slipped further to 1.1275 after the
release of US unemployment claims. US unemployment claims released at 1314k
against the previous reading of 1413k. On the other hand, US equity markets
witnessed mild correction as Dow Jones fell by more than 1%.
On the domestic front, Nifty is trading 0.5% down
at 10760, tracking weakness in US equity markets. India 10 year benchmark bond
yield is trading flat near 5.78%. The partially convertible rupee started to
weaken as fundamental took back centre stage after completion of large inflow.
USDINR pair is trading at 75.25 levels. USDINR pair has immediate resistance at
75.45-50 levels and support at 75.00 levels
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