Published on 10/07/2017 9:54:34 AM | Source: Kedia Commodity Ltd

EURINR trading range for the day is 73.76-74.3 - Kedia Commodity

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips

Currency Update


* USDINR trading range for the day is 64.61-64.99.

* Rupee gains against the dollar on buying by foreign banks likely for exporters, remittance flows amid weakness in greenback.

* Support also seen after better than expected cutoff at Reserve Bank of India's weekly bond auction.

* Activity in India's dominant service sector expanded at its fastest pace in eight months in June as new business orders surged.



* EURINR trading range for the day is 73.76-74.3.

* Euro rose after the minutes of the ECB’s June meeting showed that officials discussed removing the easing bias from its latest monetary policy statement, before deciding against it.

* ECB policymakers are open to a further step towards reducing their monetary stimulus but are likely to move slowly out of fear of causing market turmoil.

* Faster economic recovery in the euro zone is giving the ECB room to pare its extraordinary stimulus measures, Bundesbank President Jens Weidmann said.



* GBPINR trading range for the day is 83.06-84.52.

* GBP pushed lower after the release of downbeat U.K. manufacturing production data.

* The U.K. Office for National Statistics reported that manufacturing production fell 0.2% in May, disappointing expectations for a 0.5% rise.

* UK house prices declined for the first time in five months in June, data from the mortgage lender Halifax and IHS Markit showed.



* JPYINR trading range for the day is 56.87-57.3.

* JPY dropped as the dollar gained after the Bank of Japan increased its purchases of Japanese government bonds in a move aimed at stemming a rise in yields.

* BOJ offers to buy unlimited amount in fixed-rate bond operation

* Japan's leading index strengthened in May, while coincident index fell from April, preliminary data from the Cabinet Office showed


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