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Published on 30/05/2019 10:03:14 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 30 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 69.73-70.39.

* Rupee fell as oil prices slipped and broader Asian shares struggled to find ground.

* Nationalised banks are buying mostly on behalf of oil importers month-end dollar demand as well.

* The dollar strengthened after the US Conference Board said its gauge on US consumer confidence surged in the month of May.

 

EURINR

* EURINR trading range for the day is 78.12-78.67.

* Euro traded in range as the greenback’s status as a safe-haven helped amid worries about the trade tensions and Italy’s budget policy.

* Eurozone economic confidence improved for the first time in almost a year in May, driven by industry and services, survey data from EC showed.

* Eurozone economic confidence improved in May, survey data from European Commission showed.

 

GBPINR

* GBPINR trading range for the day is 88.29-89.18.

* GBP remained under pressure with the outcome of last week’s European election seen possibly emboldening proponents of a no-deal Brexit.

* However, sterling’s downside was limited by the fact that parties opposing Brexit also made sharp gains in the European vote.

* The increased support for these groups as well as for the Brexit party — opposite ends of the Brexit spectrum — may imply a rising probability of a second referendum.

 

JPYINR

* JPYINR trading range for the day is 63.86-64.54.

* JPY traded in range as fears of a further escalation in the Sino-U.S. trade dispute kept the dollar steady.

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

* Producer prices in Japan were up 0.9 percent on year in April, the Bank of Japan said.

 

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