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Published on 29/05/2019 9:47:40 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 29 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 69.47-69.85.

* Rupee ended with losses on oil importers' month-end dollar demand amid a strong dollar and higher crude prices.

* The dollar's rise has been limited as Trump sought to pressure Japan to take measures to reduce its trade surplus with the world's largest econom.

* India’s slowing economic growth is of serious concern and the country needs to urgently cut tax and interest rates to revive the economy.

 

EURINR

* EURINR trading range for the day is 77.79-78.19.

* Euro traded in range as the dollar nudged up as investors waited on more catalysts after EU parliamentary elections showed a polarization of the 28-member block.

* Euro struggled following remarks from two-euro zone officials that the European Commission is likely to start disciplinary steps against Italy on June 5.

* Germany's consumer confidence is set to drop slightly in June, survey data from the market research group GfK showed.

 

GBPINR

* GBPINR trading range for the day is 88.13-88.55.

* GBP remained in range after U.K. PM May announced that she would step down from her post following the failure to get Brexit deal passed through Parliament

* The PM said she did her best to get her Withdrawal Agreement passed through Parliament but that had failed.

* UK retail sales performed better-than-expected in April as warm weather boosted clothing sales, data from the Office for National Statistics showed.

 

JPYINR

* JPYINR trading range for the day is 63.43-63.97.

* JPY remained in range as U.S. President Donald Trump, is seen putting pressure on Tokyo to reduce the nation’s large trade surplus with the United States.

* Trump told a news conference with Japanese Prime Minister Shinzo Abe that he wanted exports to be put on fair footing in Japan through the removal of trade barriers.

* Bank of Japan Governor Haruhiko Kuroda said there remains a high degree of uncertainty regarding the global economy and downside risks are large. 

 

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