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Published on 17/06/2019 9:42:25 AM | Source: LKP Securities Ltd

Currency Trading Ideas 17 June 2019 - USD, EUR, GBP, JPY by LKP Securities

Posted in Currency Report| #Currency Tips #LKP Securities Ltd

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USDINR

* USDINR trading range for the day is 69.48-70.14.

* Rupee dropped on buying by natioanlised banks likely on behalf of oil importers amid overseas inflows into local stocks.

* Investors were wary about the country’s plans to impose higher tariffs on some U.S. goods, amid higher food prices in the domestic market.

* The Reserve Bank of India will conduct purchase of government securities under Open Market Operation (OMO) for 125 billion rupees on June 20, 2019, the central bank said.

* RBI Reference Rate for USDINR was at 69.1713.

* BUY USDINR JUN 2019 @ 69.50 SL 69.38 TGT 69.65-69.78. NSE

 

EURINR

* EURINR trading range for the day is 78.42-79.03.

* Euro traded in range after International Monetary Fund Managing Director Christine Lagarde warned that escalating trade tensions pose risks to the euro zone.

* EU finance ministers failed to agree in overnight talks on some of the key features of a future euro zone budget and decided to continue discussions in the coming months

* Germany's wholesale price inflation slowed in May after accelerating in April, figures from Destatis showed.

* RBI Reference Rate for EURINR was at 77.7024.

* BUY EURINR JUN 2019 @ 77.75 SL 77.55 TGT 77.95-78.20. NSE

 

GBPINR

* GBPINR trading range for the day is 88.11-88.63.

* GBP remained in range after Boris Johnson won by far the most support from Conservative lawmakers in the first round of the contest to replace PM May.

* Broader market sentiment has also conclusively turned negative against the British pound in recent weeks with net speculative positions flipping towards a bearish position.

* UK house prices increased in May as the delay in Brexit helped to curb continuous fall in prices.

* RBI Reference Rate for GBPINR was at 90.4756.

* BUY GBPINR JUN 2019 @ 88.20 SL 88.00 TGT 88.45-88.65. NSE

 

JPYINR

* JPYINR trading range for the day is 64.16-64.83.

* JPY traded in range as investors were reluctant to take large positions before next week’s Federal Reserve meeting and the G20 summit in Japan.

* The total value of core machine orders in Japan advanced a seasonally adjusted 5.2 percent on month in April, the Cabinet Office said.

* Producer prices in Japan were down 0.1 percent on month in May, the Bank of Japan.

* RBI Reference Rate for JPYINR was at 62.52.

* BUY JPYINR JUN 2019 @ 63.45 SL 63.25 TGT 63.58-63.70. NSE

 

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