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Published on 3/06/2019 9:07:33 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 3 June 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 69.61-70.4.

* Rupee ended with gains on likely FII inflows into local debt and stocks and tracking the plunge in crude oil prices

* Also, a gloomy outlook of the US economy and a possible rate cut by Fed, cheered domestic markets as it would prompt FIIs to turn to India for better returns.

* The sharp easing in oil prices and US Treasury yields as Trump's imposition of tariffs on Mexico is expected to hurt global growth

 

EURINR

* EURINR trading range for the day is 77.8-78.48.

* Euro traded in range weighed by factors including concerns over Italy’s rising debt and the prospect of Trump opening up a European front in his trade war.

* Signs of a sagging euro zone economy, together with worries about the rise of euro-sceptic political parties within EU member countries, have hurt the zone’s common currency.

* Germany's unemployment climbed sharply in May for the first time in nearly two years, defying expectations for further decline.

 

GBPINR

* GBPINR trading range for the day is 87.6-88.84.

* GBP dropped as investors remained side-lined amid the contest to succeed Prime Minister Theresa May.

* May’s imminent departure deepens the Brexit crisis as a new leader, who should be in place by the end of July, is likely to want a more decisive split with the bloc.

* Britain’s finance minister warned those in his party vying for the role of prime minister that a no-deal Brexit would threaten the United Kingdom’s cohesion.

 

JPYINR

* JPYINR trading range for the day is 63.79-64.8 

* JPY advanced as the Trump administration’s move to escalate its trade war with other countries shook already fragile investor sentiment in global financial markets.

* Industrial output in Japan rose a seasonally adjusted 0.6 percent on month in April, the Ministry of Economy, Trade and Industry said in preliminary reading.

* Bank of Japan Governor Haruhiko Kuroda said Japan has difficulty in re-anchoring long-term inflation expectations from inflation below the target level.

 

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