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Published on 10/12/2019 10:17:10 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 10 December 2019 - USD, EUR, GBP, JPY by Kedia Commodity

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

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USDINR

* USDINR trading range for the day is 70.95-71.57.

* Rupee appreciated aided by optimism around likely progress in US-China trade talks amid continuous corporate flows supporting demand for local currency.

* China and the US are negotiating a "phase one" deal aimed at de-escalating their prolonged trade dispute.

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

 

EURINR

* EURINR trading range for the day is 78.63-79.22.

* Euro dropped after data showing Germany industrial output unexpectedly dropped in October, revived worries about its economic growth outlook.

* Germany's industrial production declined at the fastest pace in six months in October, led by a sharp decrease in capital goods output in October

* France's trade deficit widened in October to its lowest level in five months, figures from the French Customs Office showed

 

GBPINR

* GBPINR trading range for the day is 93.21-94.54.

* GBP seen supported on expectations that the Conservative Party will win next week's British election.

* The Conservative Party extended its lead over the Labour Party to 14 percentage points, up from 9 percentage points a week ago.

* The UK labor market conditions remained challenging in November amid election and Brexit uncertainty, the Report on Jobs from IHS Markit showed.

 

JPYINR

* JPYINR trading range for the day is 65.58-65.9.

* JPY dropped as risk appetite improved, after more positive rhetoric on U.S.-China trade negotiations from U.S. President Donald Trump.

* Japan's current account surplus stood at 1.82 trillion yen ($16.76 billion) in October, Ministry of Finance data showed.

* Japan's gross domestic product was bumped all the way up to a seasonally adjusted annualized 1.6 percent in the third quarter of 2019.

 

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