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Published on 21/05/2019 9:36:13 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 21 May 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 69.3-70.09.

* Rupee rallied after exit polls suggested the election will give a clear mandate for the ruling party led coalition.

* Indian Prime Minister Narendra Modi is likely to return to power with an even bigger majority in parliament after a mammoth general election.

* The Reserve Bank of India (RBI) will remain vigilant and strive to revive growth in Asia’s third-largest economy.

 

EURINR

* EURINR trading range for the day is 77.09-78.94.

* Euro dropped as dollar rose as concern about next week’s European parliamentary elections dented demand for the euro.

* The dollar has been favored as a safe-haven currency even as the U.S.-China trade war escalates.

* Italian Deputy Prime Minister Matteo Salvini’s comments that European Union rules harm his country.

 

GBPINR

* GBPINR trading range for the day is 88.27-89.41.

* GBP dived after cross-party Brexit talks collapsed and concern grew about the impact Prime Minister Theresa May’s likely resignation would have on Britain’s EU divorce.

* Brexit was delayed, but following weeks of talks between May’s Party and the opposition Labour Party that yielded nothing the currency slumped out of its narrow range.

* UK house prices increased marginally in May, reports said citing data from the property website Rightmove.

 

JPYINR

* JPYINR trading range for the day is 62.88-63.93.

* JPY dropped as risk appetite improved slightly.

* The Japanese economy unexpectedly accelerated in the last quarter, defying expectations for a mild contraction.

* BoJ would "maintain the current extremely low levels of short- and long-term interest rates for an extended period of time.

 

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