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Published on 10/01/2018 9:27:56 AM | Source: Kedia Commodity Ltd

JPYINR trading range for the day is 56.33-56.87 - Kedia Commodity

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips

USDINR

* USDINR trading range for the day is 63.4-64.1.

* Rupee traded at one-week low on likely selling by oil importers and as dollar rose to one week high.

* Activity in India’s services industry bounced back to modest growth in December after contracting in the previous month, a private survey showed.

* India’s annual infrastructure output grew 6.8 percent in November from a year ago, government data showed.

               

EURINR         

* EURINR trading range for the day is 76.06-76.4.

* Euro dropped as investors appeared to take profit on the euro following its recent rally.

* Eurozone economic confidence strengthened further in December, reaching its highest level seen since late 2000.

* Eurozone retail sales rebounded strongly in November, surpassing expectations, preliminary data from Eurostat showed.

GBPINR                

* GBPINR trading range for the day is 86.07-86.65.

* GBP gained after a cabinet reshuffle alleviated a little of the political uncertainty that has pressured the UK currency in recent months.

* PM May named a new head of her ruling Conservatives, among other changes aimed at handing her government a new start after months of divisions over Brexit.

* Many investors said that while the reshuffle had removed some uncertainty, it would be unlikely to have a long-term positive influence on the pound.             

JPYINR   

* JPYINR trading range for the day is 56.33-56.87.

* JPY jumped after the Bank of Japan’s slight reduction to its bond purchases reminded investors that it will eventually normalise policy.

* Japan’s central bank trimmed its purchases of Japanese government bonds (JGBs).

* Since it adopted the yield curve control policy in 2016, the BOJ has made similar tweaks to its JGB purchases, which are regarded as mainly technical moves.

 

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