Published on 25/06/2019 10:30:17 AM | Source: LKP Securities Ltd

Currency Trading Ideas 25 June 2019 - USD, EUR, GBP, JPY by LKP Securities

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

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* USDINR trading range for the day is 69.53-70.06.

* Rupee ended with gains on buying by nationalised banks likely on behalf of oil importers.

* India’s trade deficit widened to $15.36 billion in May from a year ago, the trade ministry said in a statement.

* India’s wholesale food prices index for May rose 5.10% year-over-year, compared to 4.95% in April.

* RBI Reference Rate for USDINR was at 69.1713.

* BUY USDINR JUL 2019 @ 69.61 SL 69.48 TGT 69.76-69.88. NSE



* EURINR trading range for the day is 79.01-80.1.

* Euro rose as the greenback remained on the back foot amid expectations for the Federal Reserve to cuts interest rates later this year.

* Euro area private sector expanded at the fastest pace so far this year in June, as the contraction in manufacturing was offset by the improvement in the service sector.

* Germany's private sector growth remained unchanged in June, flash data from IHS Markit showed.

* 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 trading range for the day is 88.45-89.63.

* GBP gained as dollar was on the back foot as traders remained cautious about the prospects of trade talks between US and China at this week’s G20 summit.

* UK consumer spending is forecast to grow at the slowest pace in six years

* UK net borrowing decreased in May, but was more than expected, figures from the Office for National Statistics showed.

* 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 trading range for the day is 64.95-65.32.

* JPY  remained in range as dollar was pressured as a safe haven in times of political angst, as tensions grew between Iran and the United States.

* Japan's Vice Finance Minister Asakawa: Currency issues have been discussed in G20. Japan's stance is trade, FX policy shouldn't be mixed

* BoJ 10-Year Yield Target 0.000% as expected and unchanged in June

* 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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