We are expecting, Rupee commence trading on Thursday with firm note against greenback was on the defensive against more growth-sensitive currencies, following upbeat U.S. and European economic data but renewed worries about the corona virus blunted more aggressive risk taking.
On Wednesday , USDINR was getting some bids on lower levels at 75.48 - 75.50 levels, intraday range was 75.4825 - 75.6150, before finished at 75.5925.
India has ordered telecom companies and other internet providers to stop access to 59 banned Chinese-origin apps, according to notices seen by Reuters, intensifying efforts to crack down on such businesses following a border clash between the nations.
India's manufacturing activity contracted for a third straight month in June, albeit at a much shallower pace, as demand and output continued to suffer from three months of lock downs to quell the spread of the corona virus, a private survey showed.
INTRADAY RANGE - 75.25 ( 75.40 - 75.61 ) 75.78
GLOBAL HIGHLIGHTS
The U.S. manufacturing activity rebounded more than expected in June, with the manufacturing activity index by the Institute for Supply Management (ISM) hitting its highest in 14 months as firms and businesses resumed operations.
From China, Germany and France all pointed to a recovery in factory activity while the ADP National Employment Report showed June private payrolls increased 2.369 million jobs.
The GBP/USD traded at $1.2480 , flat in early Thursday trade but having gained 1.1% so far this week.
The AUD/USD fetched 0.6916 , having gained 0.7% on the week.
The EUR/USD changed hands at $1.1260, maintaining its gain of 0.3% since the start of week.The so-called golden cross formation on the daily chart suggests the common currency has the potential to challenge its June 10 high of $1.1422, which is backed up by Tuesday’s first close above the 21-monthly moving average since August 2018.
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