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Published on 24/01/2020 9:53:43 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 24 January 2020 - 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 71.07-71.5.

* Rupee ended with losses as a new strain of coronavirus in China took a toll on risk appetite

* Investors turned wary of US Trump decision to impose tariffs on EU's auto segment, bringing fears of a trade conflict emerging between the EU and the US.

* India’s annual retail inflation has accelerated to its highest level in more than five years, increasing the likelihood of an extended pause in the central bank’s rate cutting cycle.

 

EURINR

* EURINR trading range for the day is 78.85-79.3.

* Euro remained in range as safe-haven demand ebbed along with worries about whether the spread of a flu-like coronavirus would hurt the global economy.

* European Central Bank President Christine Lagarde is set to launch a broad review of its policy that is likely to see her redefine the ECB's main goal and how to achieve it.

* The euro zone's central bank has fallen short of its inflation target of just under 2% for years despite increasingly aggressive stimulus measures

 

GBPINR

* GBPINR trading range for the day is 93.02-94.02.

* GBP remained supported as investors debated whether or not the Bank of England would cut interest rates when it meets next week.

* Data showed the British economy created jobs at its strongest rate in nearly a year in the three months to November.

* The U. K. government borrowing for December decreased from a year ago and was less than expected, figures from the Office for National Statistics showed

 

JPYINR

* JPYINR trading range for the day is 64.85-65.27

* JPY gained amid weak export figures and fears about the mysterious virus in China.

* Japanese exports for December fell 6.3% in December as compared to a year before, data from country’s Ministry of Finance data showed.

* Japan's leading index fell than initially estimated in November, final data from the Cabinet Office showed.

 

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