Published on 5/12/2019 9:59:41 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 05 December 2019 - USD, EUR, GBP, JPY by Kedia Commodity

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

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* USDINR trading range for the day is 71.48-72.07.

* Rupee gained as dollar seen under pressure as markets remained jittery about the progress of Sino-U.S. trade talks

* India's services sector activity recovered in November amid a rise in new business intakes and job creation, survey results from IHS Markit showed.

* India's manufacturing sector grew further in November but the upturn remained subdued compared to early 2009, survey results from IHS Markit showed.



EURINR trading range for the day is 79.19-79.92.

Euro dropped as uncertainty about the progress of trade talks between the United States and China fuelled demand for the greenback.

Eurozone producer prices declined at the fastest pace in more than three years in October, data from Eurostat showed.

Spain's unemployment increased in November, data from the Ministry of Labor, Migration and Social Security showed.



* GBPINR trading range for the day is 93.08-94.02.

* GBP gained buoyed by growing hopes for a victory by the ruling Conservative Party in the coming snap election set for Dec.12.

* Latest opinion polls showed that the ruling Conservatives by are enjoying a strong lead by 12% over Labour Party

* The UK construction sector continued to contract in November, albeit at a slower pace, as new work weakened amid domestic political uncertainty



* JPYINR trading range for the day is 65.75-66.57.

* JPY remained in range after U.S. President Donald Trump warned a trade deal with China might not come until after the 2020 U.S. presidential election.

* BOJ Governor Kuroda said the central bank's ultra-loose monetary policy is aimed at hitting its inflation target, rather than funding government spending

* The services sector in Japan moved back into expansion in November, albeit barely, the latest survey showed.


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