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Published on 13/06/2019 9:20:42 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 13 June 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 69.29-69.65.

* Rupee traded in range on buying by nationalised banks and overseas fund outflows from local stocks.

* The greenback continued trading lower weighed on by expectation of a Fed rate cut in the coming months.

* Investor focus is now on the Fed's next policy meeting on June 18-19 and on the signals the central bank could offer

 

EURINR

* EURINR trading range for the day is 78.58-79.01.

* Euro traded in range as U.S. dollar dropped slightly as investors focused on the U.S.-China trade war and economic data for signals of growth.

* Risk sentiment improved, after the United States reached a deal with Mexico on Friday to avoid imposing tariffs on the country.

* Eurozone investor confidence eroded sharply in June as a renewed escalation in trade tensions between the US and China hurt sentiment in the single currency bloc.

 

GBPINR

* GBPINR trading range for the day is 88.22-88.82.

* GBP remained under pressure after British wages in the three months to April rose faster than expected.

* The pound has been on the backfoot in recent weeks as investors sit on the sidelines while the contest to succeed Theresa May as leader of the Conservative party.

* Worse than expected data showing the British economy shrank 0.4% in April added to the pound’s worries.

 

JPYINR

* JPYINR trading range for the day is 64.02-64.31.

* JPY traded in range as dollar dropped weighed by expectations the U.S. Federal Reserve could cut interest rates some time in the next few months.

* The dollar seen under pressure following a sharp decline in long-term U.S. Treasury yields, which fell to near two-year lows.

* The total value of core machine orders in Japan advanced a seasonally adjusted 5.2 percent on month in April.

 

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