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Published on 11/10/2018 9:59:04 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 11 October 2018 - USD, EUR, GBP, JPY by Kedia Commodity

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

USDINR 

*  USDINR trading range for the day is 74.11-74.61.

*  Rupee gained recovering from a record low hit at the end of the previous session, as gains in other Asian peers and stronger domestic shares helped sentiment.

*  India reported a fiscal deficit of 5.9 trillion rupees ($81.4 billion) for April-August, or 94.7 percent of the budgeted target for the current fiscal year.

*  India expects to trim the deficit to 3.3 percent of GDP this fiscal year, after meeting an upwardly revised fiscal deficit target of 3.5 percent of GDP in 2017/18

*  BUY USDINR OCT 2018 @ 74.50 SL 74.30 TGT 74.74-74.95. NSE

 

EURINR

*  EURINR trading range for the day is 85.32-86.01.

*  Euro remained supported after Italian Economy Minister Tria said that Italy will do whatever is necessary to restore calm if market turbulence turns into a financial crisis.

*  Germany is set to lower growth forecasts

*  EU Commission Juncker says we need to strengthen the Euro

*  BUY EURINR OCT 2018 @ 86.00 SL 85.80 TGT 86.25-86.48. NSE

 

GBPINR

*  GBPINR trading range for the day is 97.29-98.45.

*  GBP gained after reports that the UK and European Union were making progress in Brexit talks and divorce terms could be settled next week.

*  EU negotiators said an agreement with Britain was “very close” and EC President Juncker said a deal would be reached in November.

*  British workers’ productivity grew at the fastest pace since late 2016 in the three months to June and labour cost growth slowed.

*  BUY GBPINR OCT 2018 @ 98.50 SL 98.20 TGT 98.88-99.10. NSE

 

JPYINR

*  JPYINR trading range for the day is 65.56-66.1.

*  JPY traded in range as the greenback remained strong amid a confluence of factors, including a strong U.S. economy.

*  The total value of core machine orders in Japan spiked a seasonally adjusted 6.8 percent on month in August, the Cabinet Office said.

*  Japan's leading index strengthened more-than-expected in August, preliminary data from the Cabinet Office showed.

*  BUY JPYINR OCT 2018 @ 66.25 SL 66.00 TGT 66.58-66.78. NSE

 

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