USD/INR gains traction on global trade concerns, US PMI data in focus
Portfolio Pulse from
The Indian Rupee is experiencing downward pressure due to renewed US Dollar demand, anticipated US trade tariffs, and rising crude oil prices. Traders are cautious ahead of key economic data releases like US ISM Manufacturing PMI and JOLTS Job Openings. Despite economic growth projections of 6.5% for fiscal year 2025-26, currency markets remain volatile.
April 01, 2025 | 1:45 am
News sentiment analysis
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NEGATIVE IMPACT
The USD/INR pair shows a bearish outlook, trading below the 100-day EMA with potential for short-term consolidation. Key support levels at 85.00, 84.84, and 84.22; resistance at 85.90-86.00 region.
Bearish momentum driven by global trade tensions, potential US tariffs, and rising oil prices. Technical indicators suggest downward pressure with oversold RSI indicating possible temporary recovery.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100