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Published on 23/07/2019 10:17:39 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 23 July 2019 - USD, EUR, GBP, JPY by Kedia Commodity

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

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USDINR

* USDINR trading range for the day is 68.83-69.18.

* Rupee traded in range on selling by exporters but oil bids and a strong greenback may support.

* The Reserve Bank of India’s change in monetary policy stance effectively equates to an additional 25-basis-point (bps) rate cut, Governor Shaktikanta Das said.

* The comments fueled market speculation over whether the central bank is nearing an end to its current rate-cutting cycle, after three moves this year.

 

EURINR

* EURINR trading range for the day is 77.16-77.75.

* Euro traded in range as dollar seen supported as investors tempered their expectations for deep U.S. interest rate cuts this month

* Italy's current account surplus increased in May from previous year, data from Bank of Italy showed.

* The euro area current account surplus increased in May, data from the European Central Bank showed

 

GBPINR

* GBPINR trading range for the day is 85.66-86.64.

* GBP trading in range as traders were still focused on the growing risks of a no-deal Brexit.

* The UK budget deficit widened to the highest June level in four years on bigger government spending, the Office for National Statistics reported.

* UK retail sales recovered unexpectedly in June suggesting that wage growth boosted household spending at the end of the second quarter.

 

JPYINR

* JPYINR trading range for the day is 63.64-64.26.

* JPY traded in range as the dollar rose as fears of a larger-than-expected 50-basis-point interest rate cut in July abated.

* BOJ Kuroda: Important for public to have confidence in Central Banks

* BOJ Kuroda: Seeking price stability with no political pressure

 

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