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Published on 15/04/2019 9:53:29 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 15 April 2019 - USD, EUR, GBP, JPY by Kedia Commodity

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

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USDINR

* USDINR trading range for the day is 68.97-69.75.

* Rupee dropped on buying by nationalised banks likely on behalf of oil importers.

* Also, upbeat jobless claims data and producer price index from the US supported dollar demand.

* India’s consumer prices rose at a faster pace than anticipated in March, but remained below the central bank’s target for an eighth straight month.

* BUY USDINR APR 2019 @ 69.12 SL 69.00 TGT 69.24-69.38. NSE

 

EURINR

* EURINR trading range for the day is 78.05-78.95.

* Euro recovered after seen pressure as the dollar gained after strong U.S. labor and inflation data soothed concerns about the world’s largest economy.

* ECB officials are considering negative rates on TLTRO

* Germany's consumer price inflation slowed in March, as initially expected, latest figures from the Federal Statistical Office showed.

* BUY EURINR APR 2019 @ 78.20 SL 78.00 TGT 78.38-78.52. NSE

 

GBPINR

* GBPINR trading range for the day is 90.4-91.16.

* GBP remained supported after the European Union agreed to push back the U.K.’s departure date as far as Oct. 31.

* A delay of up to six months to Brexit left traders scratching their heads about the direction for the British currency, with few expecting wild price swings in the months ahead.

* BoE's Carney says extension for Brexit has lowered risk, but markets still not prepared for no deal Brexit, which would cause significant repricing in markets

* SELL GBPINR APR 2019 @ 90.60 SL 90.85 TGT 90.35-90.15. NSE

 

JPYINR

* JPYINR trading range for the day is 61.69-62.48.

* JPY dropped as dollar remained supported after better-than-expected labour and inflation data.

* Japan will forge ahead with a planned sales tax hike to 10 percent in October, likely knocking the economy into contraction in the fourth quarter.

* The M2 money stock in Japan was up 2.4 percent on year in March, the Bank of Japan said - coming in at 1,012.7 trillion yen.

* SELL JPYINR APR 2019 @ 62.10 SL 62.40 TGT 61.88-61.70. NSE

 

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