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Published on 22/01/2019 10:43:11 AM | Source: LKP Securities Ltd

Currency Trading Ideas 22 January 2019 - USD, EUR, GBP, JPY by LKP Securities Ltd

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

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USDINR

*  USDINR trading range for the day is 70.95-71.79.

*  Rupee recovered from its lows on overseas fund inflows into local stocks.

*  Foreign banks are the major sellers in the spot pair mostly for foreign investors inflows into local equity market.

*  The dollar held firm set for its first weekly gain since mid-December on optimism about talks to end the trade war between China and the United States.

*  RBI Reference Rate for USDINR was at 71.3782.

*  BUY USDINR 29 JAN 2019 @ 71.25 SL 71.10 TGT 71.38-71.54. NSE

 

EURINR

*  EURINR trading range for the day is 80.84-81.65.

*  Euro traded in range dragged lower by soft economic data

*  The European Commission indicated that Britons would need to choose their representatives to the next European Parliament if the country were to stay in EU.

*  Eurozone current account surplus decreased in November, led by a decline in the surplus in the visible trade and primary income accounts.

*  RBI Reference Rate for EURINR was at 81.2308.

*  SELL EURINR 29 JAN 2019 @ 81.15 SL 81.45 TGT 80.95-80.80. NSE

 

GBPINR

*  GBPINR trading range for the day is 91.23-92.37.

*  GBP dropped on profit booking after prices gained on growing confidence that Britain can avoid leaving the European Union without a deal.

*  Data showing British shoppers cut back on spending in the three months to December was broadly in line with market expectations.

*   The bigger focus for traders remained Brexit, especially after a tumultuous week in which British Prime Minister Theresa May’s deal suffered a heavy defeat in parliament.

*  RBI Reference Rate for GBPINR was at 91.8913.

*  SELL GBPINR 29 JAN 2019 @ 92.00 SL 92.20 TGT 91.65-91.25. NSE

 

JPYINR

*  JPYINR trading range for the day is 64.56-65.94.

*  JPY traded in range as dollar steadied as investor risk appetite held up despite the latest data showing China’s 2018 economic growth slowing to a near three-decade low.

*  BOJ Governor Kuroda: Banks may accelerate yield search amid aging and low rates

*  BOJ Governor Kuroda: Aging doesn't necessarily push down economy

*  RBI Reference Rate for JPYINR was at 65.15.

*  SELL JPYINR 29 JAN 2019 @ 65.10 SL 65.40 TGT 64.75-64.56. NSE

 

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