MENU

Published on 20/05/2019 9:26:49 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 20 May 2019 - INR, EUR, GBP by Angel Broking Pvt Ltd

Posted in Currency Report| #Currency Tips #Angel Broking Pvt Ltd

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

FUNDAMENTAL OUTLOOK

 Indian rupee

Indian Rupee depreciated by 0.2 percent last week while the Dollar Index increased by 0.54 percent. Services PMI from India came in at 51 for Mar’19 against market expectations of 52.5. CPI from India came in at 2.92 percent for Apr’19 against market expectations of 2.7 percent.

Stronger than expected Economic data by US pushed the U.S. Dollar higher. U.S. housing data unexpectedly increased in April 2019. Moreover, the unemployment benefits declined last week signalling towards a stronger labour market which pushed the U.S. Dollar higher against the basket of currencies. Trade tension between US and China further escalated after US blacklisted China’s telecom giant, Huawei. Meanwhile, China also threatened to increase tariffs on US goods on $60 billion from 5 percent to 10, 20 and 25 percent on different batch of goods

USDINR is expected to appreciate in today’s session.

 

Euro

EURUSD appreciated by 0.5 percent last week while EURINR appreciated by 0.29 percent the same time frame.

Escalating trade tension has inserted downside pressure on the global economic growth. Slowdown is also witnessed in the Eurozone and Italy stated the ECB governing council member, Ignazio Visco. Meanwhile, German CPI came in line with market expectations at 1 percent for Apr’19. German GDP data came in line with market expectations at 0.4 percent.

EURINR is expected appreciate in today’s session.

 

GBP

GBP decreased against USD by 1.63 percent last week while GBPINR appreciated by 1.38 percent.

In the UK, cross-party talks between the government and opposition Labour continued this Monday, although the lack of progress persists, denting further demand for Sterling. Meanwhile, wages growth eased to 3.2% from 3.5%, also missing the market's forecast of 3.4%.

GBPINR is expected to appreciate in today’s session.

 

To Read Complete Report & Disclaimer Click Here


 

Click here to open demat account

 

For More Angel Broking Pvt Ltd Disclaimer http://www.angelsecurities.in/disclaimer.aspx                    

 

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