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Published on 13/06/2018 10:00:55 AM | Source: Kedia Commodity Ltd

JPYINR trading range for the day is 61.13-61.52 - Kedia Commodity

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

USDINR

USDINR trading range for the day is 67.38-67.73.

Rupee traded in the range on selling by foreign banks along with exporters.

Global liquidity declines owing to continued reduction of balance sheet by Federal Reserve coupled with expectations that ECB would begin tapering.

India's foreign exchange reserves fell to $412.23 billion as of June 1, compared with $412.82 billion a week earlier, the Reserve Bank of India said.

BUY USDINR JUN 2018 @ 67.60 SL 67.45 TGT 67.75-67.88. NSE

EURINR

EURINR trading range for the day is 79.44-79.94.

Euro seen some pressure after assurances from Italy that it would not leave the European Union calmed investors’ nerves.

The ECB should tighten bank access to its cash once inflation in the euro zone reaches its goal and its stimulus measures are gradually withdrawn.

Germany's industrial production and shipments declined in April amid a rebound in imports, signaling another weak start for the second quarter.

SELL EURINR BELOW 79.55 SL ABV 79.75 TGT 79.18-78.98. (STBT)

GBPINR

GBPINR trading range for the day is 90.11-90.82.

GBP remained under pressure after British factory output suffered its biggest monthly drop since 2012, underlining that economic momentum remains fragile.

Output in the UK manufacturing sector fell 1.4% in April from the prior month, according to figures published by the Office for National Statistics.

Industrial production fell 0.8% in April, compared to a gain of 0.1% in the previous month.

SELL GBPINR BELOW 90.40 SL ABV 90.80 TGT 90.05-89.70. (STBT)

JPYINR

JPYINR trading range for the day is 61.13-61.52.

JPY dropped as the dollar edged up elevated by hopes that the closely-watched U.S.-North Korea summit can pave the way towards a reduction in tensions.

Japan's tertiary activity index increased in April after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed.

The Bank of Japan concludes a two-day meeting on Friday at which it is widely expected to keep its loose monetary policy intact.

SELL JPYINR BELOW 61.35 SL ABV 61.60 TGT 61.15-60.90. (STBT)

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