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Published on 6/06/2019 9:21:17 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 6 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 69.07-69.67.

* 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.

 

EURINR

* EURINR trading range for the day is 77.82-78.69.

* Euro gained as the dollar struggled hurt by a sharp slide in U.S. Treasury yields thanks to rising bets for a near-term rate cut by the Federal Reserve.

* Italian PM Conte asks for clear loyalty of coalition parties for him to remain in his current role as Prime Minister

* Italy's manufacturing sector contracted in May at the softest pace since late 2018, survey data from IHS Markit showed.

 

GBPINR

* GBPINR trading range for the day is 87.51-88.64.

* GBP remained in range reflecting growing uncertainty among investors on the outlook for the British economy.

* Brexit stockpiling boom of early 2019 gave way last month to the steepest downturn in British manufacturing in almost three years

* Hedge funds stepped up their negative bets on sterling as U.S. President Donald Trump backed hardline British politicians Boris Johnson and Nigel Farage

 

JPYINR

* JPYINR trading range for the day is 64-64.66

* JPY gained as U.S. dollar fell after St. Louis Federal Reserve President James Bullard said an interest rate cut “may be warranted soon.

* ” The monetary base in Japan was up 3.6 percent on year in May, the Bank of Japan said - coming in at 510.808 trillion yen.

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

 

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