MENU

Published on 6/06/2019 10:17:46 AM | Source: LKP Securities Ltd

Currency Trading Ideas 6 June 2019 - USD, EUR, GBP, JPY by LKP Securities

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

Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More

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.

* RBI Reference Rate for USDINR was at 69.1713.

* SELL USDINR JUN 2019 @ 69.35 SL 69.50 TGT 69.14-69.00. NSE

 

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.

* 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 87.51-88.64.

* 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.

* 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 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.

* RBI Reference Rate for JPYINR was at 62.52.

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

 

To Read Complete Report & Disclaimer Click Here

 

For More  LKP Securities Ltd Disclaimer  http://www.lkpsec.com/

 

Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer