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Published on 18/10/2019 10:45:47 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 18 October 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 70.98-71.67.

* Rupee ended with gains the announcement of "Brexit deal done" helped improve risk sentiments amid extended losses in greenback.

* The dollar held near a one-month low as weak data cast a shadow on the outlook for the U.S. economy in the short term.

*India’s core consumer inflation was seen between 4% and 4.02% in September, compared with a range of 4.20%-4.25% in August.

 

EURINR

* EURINR trading range for the day is 78.83-79.57.

* Euro gained as dollar fell as dismal U.S. retail sales data painted a gloomy picture of the economy and supported the case for further interest rate cuts by Fed.

* The euro area trade surplus increased in August on falling imports, data from Eurostat revealed.

* Eurozone inflation eased more than initially estimated in September, latest data from Eurostat showed.

 

GBPINR

* GBPINR trading range for the day is 90.18-93.32.

* GBP rallied after the EU’s Jean-Claude Juncker and U.K. Prime Minister Boris Johnson both confirmed via twitter that a Brexit deal had been reached.

* A potential deal on Britain’s divorce from the European Union is still awaiting clearance from London, EU diplomats said.

* UK consumer prices grew at a steady rate, which was below the Bank of England's target, in September and factory gate inflation eased to the weakest in three years

 

JPYINR

* JPYINR trading range for the day is 65.18-66.03.

* JPY remained under pressure despite dollar was lower as retail sales fell for the first time in seven months in September

* All nine regions across Japan had been either expanding or recovering, the Bank of Japan said in its Regional Economic Report.

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

 

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