Published on 21/05/2019 9:42:50 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 21 May 2019 - INR, EUR, GBP by Angel Broking Pvt Ltd

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

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 Indian rupee

Indian Rupee appreciated by 0.98 percent yesterday while the Dollar Index declined by 0.06 percent on account of exit polls suggesting that the current government could win another term. 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.

 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. Meanwhile, according to Morgan Stanley warned that a collapse of the trade talks and a lasting breakdown with higher tariffs on all USChina trade would push the global economy towards recession.

USDINR is expected to move sideways in today’s session.



 EURUSD appreciated by 0.13 percent yesterday while EURINR appreciated by 0.75 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. German PPI came in at 0.5 percent against market expectations of 0.4 percent for Apr’19.

EURINR is expected to move sideways in today’s session.



GBP increased against USD by 0.06 percent yesterday while GBPINR appreciated by 0.93 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 move sideways in today’s session.


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