Published on 12/02/2018 8:53:14 AM | Source: Kedia Commodity Ltd

JPYINR trading range for the day is 58.85-59.44 - Kedia

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


* USDINR trading range for the day is 64.34-64.68.

* Rupee traded near two-month low on likely outflows from local stocks amid subdued dollar.

* The RBI forecasted retail inflation to fall from the current levels in the second half of fiscal year 2019.

* The RBI-led MPC expects retail inflation at 5.1% during the fourth quarter of FY2018 compared with December policy forecast of 4.3-4.7%.



* EURINR trading range for the day is 78.92-79.33.

* Euro remained supported as U.S. government was pushed into a second shutdown since the beginning of the year after a vote on a budget deal was delayed by Congress.

* Spain's industrial production expanded at a faster pace in December, the statistical office INE reported.

* Markets are now predicting central banks globally will tighten policy faster than previously expected with inflation expectations growing.



* GBPINR trading range for the day is 89.25-90.39.

* GBP rose following an unexpectedly hawkish rate announcement from the Bank of England.

* The BoE warned that interest rates could rise faster than investors are currently anticipating after its policy meeting.

* The BoE also raised its growth forecasts, saying that it now expects the British economy will expand faster than expected this year and in 2019.



* JPYINR trading range for the day is 58.85-59.44.

* JPY rose on safe-haven buying as a slump in global stock markets rolled across Asia.

* Japan's tertiary activity index decreased unexpectedly at the end of the year, though slightly, data published by the Ministry of Economy, Trade and Industry showed.

* The M2 money stock in Japan was up 3.4 percent on year in January, the Bank of Japan said - coming in at 992.0 trillion yen.


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