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Published on 12/07/2018 10:27:26 AM | Source: Kedia Commodity Ltd

GBPINR trading range for the day is 91.1-91.8 - Kedia

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

USDINR

*  USDINR trading range for the day is 68.79-69.11.

*  Rupee traded little changed as buying by exporters offset the impact of oil importers dollar demand and higher tracking sharp moderation in Brent crude oil prices.

*  News of the additional tariffs pushed fears of a trade war back into focus just days after the U.S. imposed 25% tariffs on $34 billion of Chinese imports

* Higher US inflation will reflect robust US economic growth, leaving no option for the Federal Reserve from monetary tightening.

*  BUY USDINR JUL 2018 @ 68.75 SL 68.62 TGT 68.88-69.05. NSE

EURINR

*  EURINR trading range for the day is 80.62-81.18.

*  Euro traded in range the greenback remained soft as trade concerns between US and China flared up again amid dismal US economic data.

*  Heightened political uncertainty sunk German investor confidence to its lowest level in nearly six years in July, survey data showed.

*  Eurozone house prices grew at a faster pace in the three months ended March, Eurostat reported.

*  SELL EURINR JUL 2018 @ 80.40 SL 80.75 TGT 80.10-79.85. NSE

GBPINR

*  GBPINR trading range for the day is 91.1-91.8.

*  GBP remained supported though investors were wary of pushing it higher before data that may raise hopes of an interest rate hike in August and rising political uncertainty.

*  Boris Johnson followed Brexit minister David Davis in resigning in opposition to May’s hard-fought blueprint for how Britain is to structure its relationship with EU.

*  Recent improvement in economic data and upbeat comments from BOE Governor Carney has lifted expectations of an August rate hike to more than 70 percent.

*  SELL GBPINR JUL 2018 @ 91.00 SL 91.45 TGT 90.72-90.45. NSE

JPYINR

*  JPYINR trading range for the day is 61.29-62.63.

*  JPY traded in range as global economic momentum appeared so far unscathed by trade tensions, prompting investors to buy riskier assets.

*  Investors appear to be shrugging off the deepening trade conflict between the United States and China.

*  Japan's tertiary activity index increased for the second straight month in May, though marginally, data from the Ministry of Economy, Trade and Industry showed.

*  SELL JPYINR JUL 2018 @ 61.40 SL 61.80 TGT 61.10-60.85. NSE

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