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Published on 15/11/2019 10:10:55 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 15 November 2019 - USD, EUR, GBP, JPY by Kedia Commodity

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

USDINR

* USDINR trading range for the day is 71.72-72.46

* Rupee ended with gains amid rising hopes of a rate cut by the Reserve Bank of India after weak economic data

* India’s retail inflation breached the central bank’s medium-term target of 4% in October for the first time in 15 months.

* September industrial output contracted 4.3%, government data showed following a decline of 1.4% in August.

 

EURINR

* EURINR trading range for the day is 78.93-79.78.

* Euro remained in range as dollar held steady on stronger-than-expected consumer prices in October

* Eurozone's industrial production decreased at the slowest pace in four months in September, which was also less severe than the fall predicted.

* Germany's inflation slowed as initially estimated in October, final data from the Federal Statistical Office showed.

 

GBPINR

* GBPINR trading range for the day is 92.1-93.08.

* GBP dropped as weak economic data, which should hurt sterling, were more than offset by supportive political developments in Britain.

* Brexit Party leader Nigel Farage said he would stand down no more candidates beyond the 317 Conservative seats from which his party had already withdrawn.

* Inflation fell in October to its lowest level in nearly three years, official data showed, adding to expectations that BOE’s next move might be an interest rate cut.

 

JPYINR

* JPYINR trading range for the day is 65.99-66.7

* JPY gained as the U.S. dollar fell after media reports that trade talks between the U.S. and China had "hit a snag" over farm purchases.

* Japan’s economy ground to a near standstill in the third quarter with growth at its weakest in a year as the U.S.-China trade war and soft global demand knocked exports.

* Private consumption also cooled from the previous quarter, casting doubt on BOJ’s view that robust domestic demand will offset the impact from intensifying global risks.

 

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