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Published on 11/07/2018 10:30:52 AM | Source: Kedia Commodity Ltd

Buy JPYINR Jul 2018 @ 62.00 SL 61.70 TGT 62.26-62.56 - Kedia

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

USDINR

*  USDINR trading range for the day is 68.79-69.1.

*  Rupee depreciated on dollar demand by oil importers amid strong dollar lower tracking higher oil prices.

*  Indian inflation likely rose to a near two-year high in June, a development that would strengthen calls for more monetary policy tightening by RBI.

*  A recent increase in government-mandated prices is currently predicted to add 150 billion rupees ($2.18 billion) to the government’s costs.

*  BUY USDINR JUL 2018 @ 68.85 SL 68.70 TGT 68.99-69.15. NSE

EURINR

*  EURINR trading range for the day is 80.5-81.29.

*  Euro remained under pressure as investors were also waiting on the sidelines for developments on the trade war front between China and the United States.

*  Draghi said the major factors propelling inflation higher are still strong, describing growth risks in the euro zone as still balanced.

*  German exports rebounded from April despite trade war disputes, but imports growth weakened in May.

*  SELL EURINR JUL 2018 @ 80.90 SL 81.20 TGT 80.56-80.28. NSE

GBPINR

*  GBPINR trading range for the day is 90.97-91.94.

*  GBP dropped after the departure of two key eurosceptic ministers raised worries about a “hard Brexit”.

*  UK PM May rules out second referendum on Brexit

*  Fitch: UK Brexit plan faces major political, negotiating hurdles

*  BUY GBPINR JUL 2018 @ 91.20 SL 90.80 TGT 91.56-91.90. NSE

JPYINR

*  JPYINR trading range for the day is 61.92-62.25.

*  JPY weakened as investors appeared to be putting aside concerns of the trade conflict between the U.S. and China for now.

*  Japan's Finance Minister Taro Aso: Important to control spending growth on social welfare, next budget will prioritize both growth and fiscal health

*  BoJ's Harada: Jobless rate must fall more in order to hit 2% target, BoJ needs to continue with current policy to hit 2% goal

*  BUY JPYINR JUL 2018 @ 62.00 SL 61.70 TGT 62.26-62.56. NSE

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