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Published on 18/06/2019 9:46:24 AM | Source: LKP Securities Ltd

Currency Trading Ideas 18 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 69.74-70.18.

*  Rupee dropped tracking intervention by RBI to curb volatility in the market amid expectation of an export oriented Budget.

*  The greenback turned strong as an upbeat US retail sales data allayed some of the fears of a sharp downturn in the world's largest economy.

*  India's May trade deficit was steady at $15.4 billion compared to $15.3 billion in the previous month. # 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 78.26-78.89.

*  Euro remained under pressure as the dollar climbed after encouraging retail sales data for May released ahead of a Federal Reserve policy meeting

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

*  Italy's consumer price inflation slowed more than initially estimated to a 13-month low in May, final data from the statistical office Istat 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 87.78-88.54.

*  GBP dropped as investors trimmed their positions after Brexiteer Boris Johnson moved closer to becoming the next Prime Minister.

*  Investors are concerned that May’s successor will lead Britain out of the European Union with no deal in place on their future trading relations.

*  The British Chambers of Commerce downgraded its growth outlook for next year as unwinding of historically-high inventory levels.

*  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 64.27-64.59.

*  JPY dropped as the dollar surged as retail sales picked up in May, indicating a rebound in the American economy.

*  Japan's industrial production grew moderately in April, as initially estimated, final data from the Ministry of Economy, Trade and Industry showed.

*  Japan's tertiary activity increased for the first time in three months in April, data from the Ministry of Economy, Trade and Industry showed.

*  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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