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Published on 12/06/2018 10:05:02 AM | Source: Kedia Commodity Ltd

GBPINR trading range for the day is 89.88-90.93 - Kedia Commodity

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

USDINR

USDINR trading range for the day is 67.31-67.78.

Rupee gained on selling by foreign banks amid likely overseas funds inflow into local stocks.

India’s retail inflation jumped further in May to a four-month high, primarily driven by a surge in energy prices, suggesting more policy tightening.

Mounting price pressure is a concern for the RBI, with its own projections for inflation raised compared with the ones made in May.

BUY USDINR JUN 2018 @ 67.60 SL 67.45 TGT 67.72-67.85. NSE

EURINR

EURINR trading range for the day is 79.49-79.93.

Euro gained as the dollar slid after U.S. President Trump left the G7 Summit early and later tweeted that the U.S. was backing out of the joint communique.

The euro zone economy has been growing for over five years, employment is at a record high, wage inflation is increasingly clear.

The ECB has already said the 2.55 trillion euro ($2.99 trillion) asset purchase program's fate will be on the agenda.

SELL EURINR JUN 2018 @ 79.55 SL 79.75 TGT 79.18-78.98. NSE

GBPINR

GBPINR trading range for the day is 89.88-90.93.

GBP dropped after the EU’s Brexit negotiator said a British proposal for avoiding border problems with Ireland after Brexit “raises more questions than answers”.

Investors focused on the differences that remain between the EU and Britain in agreeing the terms of their relationship after the UK leaves the bloc.

On June 12, the UK’s lower house will vote on proposed amendments to the government’s EU withdrawal bill.

SELL GBPINR JUN 2018 @ 90.30 SL 90.70 TGT 89.90-89.60. NSE

JPYINR

JPYINR trading range for the day is 61.1-62.01.

JPY dropped on profit booking as the market reaction was considered moderate since few traders had expected a meaningful agreement on trade to be reached at G7.

Japan’s core machinery orders in April jumped the most since the start of 2016, reversing the prior month’s decline.

With inflation struggling to accelerate toward its 2 percent price target, the Bank of Japan is widely expected to stand pat at its policy setting meeting.

SELL JPYINR JUN 2018 @ 61.35 SL 61.60 TGT 61.15-60.90. NSE

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