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Published on 22/10/2019 9:48:14 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 22 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 70.96-71.48.

Rupee settled flat led by optimism in global markets over Brexit and as domestic corporate earnings gathers steam.

Investors will watch their view on the US economy's health and their stance on upcoming Fed policy.

India is likely to miss its fiscal deficit target of 3.3% of gross domestic product for the current financial year by 30-50 basis points, due to the sharp slowdown in the economy.

 

EURINR

EURINR trading range for the day is 79.02-79.55

Euro traded in range as dollar fell as European Union leaders unanimously backed a long-awaited Brexit deal to take Britain out of Europe on Oct. 31.

The German government said it lowered its 2020 forecast for economic growth to 1.0% from 1.5% previously, but added that economy was not facing a crisis.

Eurozone construction output declined for the second straight month in August, data from Eurostat showed.

 

GBPINR

GBPINR trading range for the day is 91.01-92.29.

GBP pared gains after the DUP said the proposals are not beneficial to the economic wellbeing of Northern Ireland.

UK retail sales stagnated in September as consumers were cautious about spending amid uncertainties surrounding Brexit, data from the ONS revealed

UK lenders expect the availability loans to the corporate sector to fall in the next three months to end-November, at the fastest rate since early 2008.

 

JPYINR

JPYINR trading range for the day is 65.32-65.9

JPY prices gained as worries about weak U.S. economic data kept the greenback kept under pressure.

Japan’s core consumer inflation slowed to near 2-1/2-year lows in September, dragged down by sliding energy prices

The BOJ, under its current forecasts issued in July, expects core consumer inflation to hit 1.0% in the current fiscal year ending in March 2020

 

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