Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
* USDINR trading range for the day is 68.53-68.75.
* Rupee ended with losses on buying by nationalised banks likely on behalf of oil importers amid FII outflows from local stocks.
* The greenback steadied after stronger-than-expected and yet tame US inflation data tempered the prospect of an aggressive Fed interest rate cut this year.
* India’s dominant services activity contracted for the first time in more than a year in June, dragged down by slowing new business growth.
* RBI Reference Rate for USDINR was at 69.1713.
* BUY USDINR JUL 2019 @ 68.60 SL 68.48 TGT 68.75-68.85. NSE
* EURINR trading range for the day is 77.4-77.65.
* Euro remained supported as dollar edged lower as stronger-than-expected U.S. inflation data failed to shake convictions that Fed will start cutting interest rates.
* Policymakers at the ECB agreed that they needed to be ready to ease the policy stance further, as uncertainties were likely to continue in the coming months
* Germany's wholesale price inflation eased to the lowest since late 2016 in June, data from Destatis revealed.
* RBI Reference Rate for EURINR was at 77.7024.
* SELL EURINR JUL 2019 @ 78.00 SL 78.32 TGT 77.72-77.64. NSE
* GBPINR trading range for the day is 86.06-86.53.
* GBP remained in range as investors remained wary about the British currency's outlook on growing economic headwinds and political fears.
* UK banks are resilient to a worst-case disorderly Brexit, but such an event will cause significant market volatility, the Bank of England said
* Hedge funds had ramped up their short bets against the pound to their highest levels since October 2018.
* RBI Reference Rate for GBPINR was at 90.4756.
* SELL GBPINR JUL 2019 @ 89.10 SL 89.45 TGT 88.85-88.65. NSE
* JPYINR trading range for the day is 63.51-63.86.
* JPY traded in range as the U.S. dollar extended losses on continued Fed-driven momentum.
* Japan's industrial production grew at a less-than-initially-estimated rate in May, final data showed.
* Japan's tertiary activity declined in May after rebounding in the previous month, data from the Ministry of Economy, Trade and Industry showed.
* RBI Reference Rate for JPYINR was at 62.52.
* SELL JPYINR JUL 2019 @ 63.40 SL 63.70 TGT 63.15-63.02. NSE
To Read Complete Report & Disclaimer Click Here
For More LKP Securities Ltd Disclaimer http://www.lkpsec.com/
Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer