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Published on 13/07/2018 10:28:18 AM | Source: Kedia Commodity Ltd

Sell EURINR Jul 2018 @ 79.90 SL 80.15 TGT 79.56-79.35 - Kedia

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

USDINR

*  USDINR trading range for the day is 68.46-68.92.

*  Rupee rose to over one-week high on optimism over sharp fall in crude oil prices and India's economic growth.

*  Investors heightened sentiments after a considerable moderation in oil prices and hope of robust first quarter corporate earnings.

* Investors shrugged-off trade tension and resumed buying on optimism over a strong June quarterly performance.

*  SELL USDINR JUL 2018 @ 68.58 SL 68.70 TGT 68.44-68.36. NSE

EURINR

*  EURINR trading range for the day is 79.57-81.23.

*  Euro remained under pressure as dollar firmed as the U.S. Labor Department's expectation-beating inflation report boosted confidence in the world's top economy.

*  ECB defended its 2.6 trillion-euro bond-buying program before the EU’s top court from accusations it was bankrolling governments and endangering taxpayer money.

*  Germany's consumer price inflation slowed as initially estimated in June, though slightly, final data from Destatis showed.

*  SELL EURINR JUL 2018 @ 79.90 SL 80.15 TGT 79.56-79.35. NSE

GBPINR

*  GBPINR trading range for the day is 90.33-91.22.

*  GBP dropped as investors tried to gauge whether the resignation of two ministers over PM May’s Brexit plans would affect an expected interest rate hike this summer.

*  The currency’s weakness was limited, however, as investors were wary of taking large bets before more clarity on the Brexit negotiations emerged.

*  Tentative signs of a recovery in Britain’s economy after a sluggish spell have lifted expectations of an August interest rate hike to more than 60 percent

*  SELL GBPINR JUL 2018 @ 90.30 SL 90.70 TGT 89.98-89.65. NSE

JPYINR

*  JPYINR trading range for the day is 60.65-61.81.

*  JPY dropped as the dollar gained after the latest U.S. economic data reaffirmed expectations that the Federal Reserve will hike interest rates two more times this year.

*  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.

*  Core machine orders in Japan fell 3.7 percent on month in May, the Cabinet Office said - coming in at 907.9 billion yen.

*  SELL JPYINR JUL 2018 @ 60.85 SL 61.20 TGT 60.56-60.22. NSE

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