Free Trial

Rupee Firmer At The Open, Trade Deficit Widens In May

INR

The Rupee is firmer in early dealing on Friday, USD/INR is down ~0.3% and dealing a touch below the 82 handle.

  • Broader USD trends are weighing on the pair and USD/INR sits at its lowest level since early May.
  • On the downside bears target the 200-Day EMA at 81.47. Bulls look to break the 20-Day EMA to turn the tide.
  • Inflows into Indian stocks from Foreign Investors is aiding the Rupee. In the week to Wednesday the inflows total $421mn.
  • On the wires yesterday May Trade Balance printed at $22.12bn widening from April's $15.24bn deficit.
  • Q1 Current Account Balance is due sometime below today and June 30.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.