Rupee Trades Firm At 71.65; Market Awaits GDP Data

Rupee resumed trade on Tuesday on a positive note and was seen quoting at 71.65, up 8 paose versus previous close of 71.73 per US dollar.

Rupee Trades Firm At 71.65; Market Awaits GDP Data

Dollar stood firm on the back of strong US economic data both on the housing front as well as factory and services activity.

Oil prices remained static and held on to their previous gains amid positive comments of a likely interim trade deal between the US and China, ending the long bruising trade-war.
Brent crude futures were down 1 cent at $63.64 at 0121 GMT, after rising 0.4% in the previous session. West Texas Intermediate crude was down 3 cents at $57.98, having risen 0.4% on Monday.

Rupee is said to still go lower while the market participants are watchful of the GDP data for the second quarter due to be released on November 29.

In the bond market, the yield on 10-year benchmark bonds stood at 6.47%

Meanwhile, tracking SGX Nifty which peaked to record high, indices in India are set to open higher after scaling to new records on the Sensex yesterday.

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