Published on 13/07/2017 9:34:28 AM | Source: Kedia Commodity Ltd

GBPINR trading range for the day is 82.74-83.63 - Kedia Commodity

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


Currency Update

USDINR

* USDINR trading range for the day is 64.58-64.76.

* Rupee gained against the dollar on likely position building ahead of India's June retail inflation data.

* Support also seen after Federal Reserve Governor Lael Brainard said another rate hike is unnecessary amid political concerns over US President Donald Trump's e-mail controversy.

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

 

EURINR

* EURINR trading range for the day is 73.89-74.49.

* Euro edged up as dollar dropped following President Trump's eldest son's release of emails suggesting he welcomed Russia's help in last year's election campaign.

* Germany's wholesale price inflation eased to the weakest in seven months in June, Destatis reported.

* Germany's exports grew more-than-expected in May, exceeding the pace of increase in imports, data from Destatis revealed.

 

GBPINR

* GBPINR trading range for the day is 82.74-83.63.

* GBP skidded after the Bank of England's Ben Broadbent declined to back up recent hints from other policymakers at the central bank.

* Three policymakers voted last month for a rate rise, and both Carney and Andy Haldane have said they could vote for a rate increase later this year.

* Bank of England Governor Mark Carney said a rise in interest rates was likely to become necessary if the economy came close to running at full capacity.

 

JPYINR

* JPYINR trading range for the day is 56.89-57.24.

* JPY gains as the dollar came under pressure after a top Fed official suggested a caution approach to further interest rate increases may be needed to revive inflation.

* Japan's tertiary industry activity dropped in May after recovering in April, data from the Ministry of Economy, Trade and Industry showed.

* BOJ's Kuroda: Japan's economy is turning toward moderate expansion.

 

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