Published on 16/03/2017 9:35:07 AM | Source: Kedia Commodity Ltd

GBPINR trading range for the day is 79.42-81 - Kedia

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


*USDINR trading range for the day is 65.33-66.18.

*Rupee appreciated to 16-month high on buying by major banks including foreign and nationalised banks amid FII inflows into local stocks.

*India's wholesale price inflation accelerated at a faster-than-expected pace in February, preliminary data showed.

* Investors now await the release of US FOMC policy meeting outcome to give direction to the FX market.




*EURINR trading range for the day is 69.43-70.38.

*Euro remained under pressure as concerns about a Dutch vote offset market speculation that the ECB could be poised to wind down its stimulus program.

*The ZEW Indicator of Economic Sentiment gained 2.4 points to 12.8 in March, data showed.

*Eurozone industrial production growth eased at a faster-than-expected pace at the start of the year amid weaker gains in almost all sectors.




*GBPINR trading range for the day is 79.42-81.

*GBP recovered on short covering after hit by fears of prolonged political jousting over the terms of Britain's exit from the European Union.

*British Prime Minister Theresa May won parliamentary backing to begin the process of leaving the EU and start two years of talks that will shape the future of Britain and Europe.

*The British Chambers of Commerce upgraded the UK growth outlook for this year citing an upward revision to UK GDP growth data in the final quarter of 2016.




*JPYINR trading range for the day is 57-57.76.

*JPY dropped as investors waited anxiously to see what clues the U.S. Federal Reserve would soon reveal on its monetary policy outlook.

*The Bank of Japan also began a two-day monetary policy meeting and is expected to hold its policy steady.

*Japan's industrial production declined less than initially estimated in January, latest figures from METI showed.


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