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Published on 25/10/2019 10:18:29 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 25 Oct 2019 - INR, EUR, GBP by Angel Broking

Posted in Currency Report| #Market Outlook #Angel Broking Pvt Ltd

FUNDAMENTAL OUTLOOK

Key Highlights

* Brexit uncertainty continues

* US accuse China over Hong Kong protests

* ECB policy meeting turns out a non-event

 

Indian rupee

Indian Rupee depreciated by 0.34 percent yesterday while the Dollar index increased by 0.14 percent during the same time frame. FII have bought nearly $8.29 billion in Indian equities and $4 billion in debt during the current year.

United States President Donald Trump on Monday said efforts to end a US trade war with China were going well, as the world's two largest economies continued to battle over trade and politics across the globe despite reaching a long-awaited truce this month. Meanwhile, Positive steps in the trade talks also did not stop China from seeking $2.4bn in retaliatory sanctions against the US for noncompliance with a World Trade Organization ruling in a case dating to the era of former US President Barack Obama. U.S. Vice President Mike Pence on Thursday accused China of curtailing “rights and liberties” in Hong Kong. He said US stand with the protestors in Hong Kong, millions who had taken to the street to protest against the tightening grip of China.

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

 

Euro

EURUSD depreciated by 0.22 percent yesterday while EURINR depreciated by 0.08 percent the same time frame.

The ECB had a monetary policy meeting and as expected, it was a non-event. No changes were announced to the current easing path and President Draghi’s message was quite the usual on risk, growth, and inflation.

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

 

GBP​​​​​​​

GBP decreased against USD by 0.51 percent yesterday while GBPINR appreciated by 0.17 percent.

PM Boris Johnson got the support for his Brexit deal in the Parliament but the MP’s rejected the government timetable for passing it through the parliament. An extension for the deadline requested by UK will be considered by the EU members. However, the UK government has said it plans to bring forward a Commons vote on an early general election on Monday if the EU offers a delay until January, as is widely expected.

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

 

 

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