Published on 18/06/2019 10:12:49 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 18 June 2019 - USD, EUR, GBP, JPY by Kedia Commodity

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

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* USDINR trading range for the day is 69.74-70.18.

* Rupee dropped tracking intervention by RBI to curb volatility in the market amid expectation of an export oriented Budget.

* The greenback turned strong as an upbeat US retail sales data allayed some of the fears of a sharp downturn in the world's largest economy.

* India's May trade deficit was steady at $15.4 billion compared to $15.3 billion in the previous month.



* EURINR trading range for the day is 78.26-78.89.

* Euro remained under pressure as the dollar climbed after encouraging retail sales data for May released ahead of a Federal Reserve policy meeting

* Germany's wholesale price inflation slowed in May after accelerating in April, figures from Destatis showed.

* Italy's consumer price inflation slowed more than initially estimated to a 13-month low in May, final data from the statistical office Istat showed.



* GBPINR trading range for the day is 87.78-88.54.

* GBP dropped as investors trimmed their positions after Brexiteer Boris Johnson moved closer to becoming the next Prime Minister.

* Investors are concerned that May’s successor will lead Britain out of the European Union with no deal in place on their future trading relations.

* The British Chambers of Commerce downgraded its growth outlook for next year as unwinding of historically-high inventory levels.



* JPYINR trading range for the day is 64.27-64.59

* JPY dropped as the dollar surged as retail sales picked up in May, indicating a rebound in the American economy.

* Japan's industrial production grew moderately in April, as initially estimated, final data from the Ministry of Economy, Trade and Industry showed.

* Japan's tertiary activity increased for the first time in three months in April, data from the Ministry of Economy, Trade and Industry showed.


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