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Published on 4/06/2019 9:38:24 AM | Source: LKP Securities Ltd

Currency Trading Ideas 4 June 2019 - USD, EUR, GBP, JPY by LKP Securities

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

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USDINR

USDINR trading range for the day is 69.02-70.05.

* Rupee appreciated tracking sharp fall in crude oil prices and likely FII inflows into local stocks and debt

* India's economic growth eased more-than-expected to a five-year low in the March quarter on weaker consumption and demand.

* India’s manufacturing sector expanded at its quickest pace in three months in May on improved output and new orders, according to a private business survey.

* RBI Reference Rate for USDINR was at 69.1713

* SELL USDINR JUN 2019 @ 69.85 SL 70.00 TGT 69.72-69.64. NSE

 

EURINR

* EURINR trading range for the day is 77.48-78.35.

* Euro dropped on fears that the ruling coalition may collapse after the resignation of Andrea Nahles

* Eurozone manufacturing activity remained entrenched inside contraction territory in May, final survey data from IHS Markit showed.

* Spain's manufacturing sector broadly stagnated in May as production stalled amid fall in new orders, survey data from IHS Markit showed.

* RBI Reference Rate for EURINR was at 77.7024

* BUY EURINR JUN 2019 @ 77.75 SL 77.55 TGT 77.95-78.20. NSE

 

GBPINR

* GBPINR trading range for the day is 87.44-88.55.

* GBP remained under pressure as the battle to succeed Prime Minister Theresa May sapped appetite for the British pound.

* The Brexit stockpiling boom of early 2019 gave way in May to the steepest downturn in British manufacturing in almost three years as new orders dried up.

* UK private sector activity remained broadly unchanged in three months to May, the latest monthly growth indicator from the CBI showed.

* RBI Reference Rate for GBPINR was at 90.4756

* BUY GBPINR JUN 2019 @ 88.20 SL 88.00 TGT 88.45-88.65. NSE

 

JPYINR

* JPYINR trading range for the day is 63.89-64.63.

* JPY remained supported as U.S. President Donald Trump’s hard stance on trade broadened to countries beyond China, stoking investor demand for safe-haven assets.

* The manufacturing sector in Japan fell into contraction in May, the latest survey from Nikkei revealed with a manufacturing PMI score of 49.8.

* Market participants also kept a focus on the trade dispute between the United States and China, the world’s two largest economies.

* RBI Reference Rate for JPYINR was at 62.52.

* BUY JPYINR JUN 2019 @ 63.45 SL 63.25 TGT 63.58-63.70. NSE


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