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Published on 16/04/2019 9:12:48 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 16 April 2019 - USD, EUR, GBP, JPY by Kedia Commodity Ltd

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

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USDINR

* USDINR trading range for the day is 68.51-70.1.

* Rupee ended with losses on buying by PSB banks mostly on behalf of oil importers demand.

* India’s annual wholesale price inflation in March accelerated to 3.18 percent, its highest in three months, government data showed.

* RBI will remain vigilant and strive to revive growth in Asia’s third-largest economy, as well as pushing to maintain macroeconomic, financial and price stability.

EURINR   

* EURINR trading range for the day is 77.99-79.25.

* Euro traded in range as dollar seen under some pressure amid growing signs the Federal Reserve will continue to hold interest rates unchanged this year.

* ECB President Draghi warned that the euro-area economy faces agglomerating risks including Brexit and the danger that trade protectionism could hurt confidence.

* Eurozone's industrial production fell in February after rising in the previous month, figures from the statistical office showed.

 

GBPINR

* GBPINR trading range for the day is 90.5-91.64.

* GBP traded in range as the immediate risks around Brexit receded after the postponement of the departure date and as the dollar suffered a broad selloff.

* Philip Hammond, said it was very likely that the idea of a second Brexit referendum would again be put to parliament at some point.

* The UK economy expanded for the second straight month, but at a slower pace, in February, figures from the Office for National Statistics showed.

 

JPYINR

* JPYINR trading range for the day is 61.78-62.47.

* JPY traded in range as more signs of stabilization in the Chinese economy and an upbeat start to the U.S. earnings season prompted investors to abandon the safe-haven currency.

* BOJ Kuroda said the central bank was ready to expand monetary stimulus if needed, brushing aside the view the BOJ had little ammunition left to fight the next economic downturn.

* The M2 money stock in Japan was up 2.4 percent on year in March, the Bank of Japan said - coming in at 1,012.7 trillion yen.

 

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