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Published on 12/10/2018 9:32:47 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 12 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 73.81-74.89.

 *  Rupee gained on selling by exporters, foreign banks amid Reserve Bank of India intervention.

*  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

*  India April-August fiscal deficit at 94.7 percent of full-year target      

*  SELL USDINR OCT 2018 @ 73.95 SL 74.20 TGT 73.76-73.62. NSE

EURINR                            

*  EURINR trading range for the day is 85.29-86.85

*  Euro remained supported after EU Brexit negotiator Barnier said the parties had agreed on much of the withdrawal agreement ahead of a summit next week.

*  There is no immediate danger of Italy losing market access or being downgraded below investment grade because the Italian economy has underlying strengths.

*  ECB lowered the ceiling on ELA Greek banks draw from the domestic central bank by 200 million euros to 5.0 billion euros ($5.74 billion),    

*  BUY EURINR OCT 2018 @ 85.65 SL 85.45 TGT 85.95-86.10. NSE

GBPINR                              

*  GBPINR trading range for the day is 97.35-99.19.

*  GBP rose after EU Brexit negotiator Michel Barnier signalled progress on a deal with the UK over its withdrawal from the bloc.

*  Barnier said 80-85 percent of the withdrawal deal was agreed.

*  The European Union wants to carry out Irish border checks after Brexit “in the least intrusive way possible”.    

*  BUY GBPINR OCT 2018 @ 97.65 SL 97.40 TGT 97.99-98.30. NSE

JPYINR                              

*  JPYINR trading range for the day is 65.82-66.85.

*  JPY remained supported taking heart from risk aversion in the wake of warnings from the IMF over global growth and financial stability.

*  Overall bank lending in Japan was up 2.3 percent on year in September, the Bank of Japan said - coming in at 528.660 trillion yen.

*  Producer prices in Japan were up 0.3 percent on month in September, the Bank of Japan said - following the flat reading in August.

*  BUY JPYINR OCT 2018 @ 65.80 SL 65.55 TGT 66.10-66.30. NSE

 

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