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Published on 18/07/2019 11:44:23 AM | Source: LKP Securities Ltd

Currency Trading Ideas 18 July 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 68.61-69.12.

 * 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

* EURINR trading range for the day is 77.09-77.67.

* Euro traded in range as the dollar stood firm after upbeat U.S. data further tempered expectations of aggressive policy easing by the Federal Reserve later this month.

* A survey by the ZEW institute showed that the mood among German investors deteriorated more sharply than expected in July.

* Eurozone's trade surplus grew in May led by a rebound in exports, which was not enough to entirely reverse the slump logged in the previous month.

* 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

* GBPINR trading range for the day is 85.17-85.89.

* GBP remained under pressure as the two candidates to be Britain’s next prime minister vied to outgun each other on taking a harder Brexit stance.

* The weakness extended even after employment data showed average weekly earnings unexpectedly rose 3.4% year-on-year in the three-months to May.

* Employment growth slowed to post the weakest increase since the three months to August last year, in a sign that labour markets may soon start feeling the heat.

* 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

* JPYINR trading range for the day is 63.54-63.88.

* JPY dropped as the U.S. dollar rose on the back of the release of strong retail sales data.

* Japan's industrial production grew at a less-than-initially-estimated rate in May, final data from the Ministry of Economy, Trade and Industry 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

 

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