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Published on 24/10/2019 11:25:41 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 24 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 70.81-71.14.

* Rupee traded in range as risk sentiments weakened following Brexit deal extension amid a strong greenback

* The World Bank downgraded its India's growth outlook citing weak domestic demand and manufacturing sector.

* 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 78.72-79.1.

* Euro remained under pressure as the dollar strengthened as investors cheered signs of progress in U.S.-china trade talks.

* European Commission says Italy's draft budget for next year could be in breach of EU fiscal rules and is seeking clarification from Italy

* ECB lending survey - Q3 credit standards eased slightly for mortgages and business compared to expectations of no change

 

GBPINR

* GBPINR trading range for the day is 90.87-91.63.

* GBP dropped as Brexit hung in the balance, with the British Parliament still divided on how, when or even if to engineer Britain's departure from EU

* British Prime Minister Boris Johnson said it was up to the EU to decide whether it wanted to delay Brexit and for how long

* Britain’s Labour Party will only back an early election if an extension long enough to allow for a snap poll is agreed with EU and a no-deal Brexit is off the table

 

 

JPYINR

* JPYINR trading range for the day is 65.28-65.72.

* JPY remained supported as some investors sought a safe haven amid doubts about Brexit and efforts to de-escalate a bruising trade war between US and China

* Japan had a merchandise trade deficit of 123.0 billion yen in September, the Ministry of Finance said.

* Japan's all industry activity remained unchanged in August, figures from the Ministry of Economy, Trade and Industry showed

 

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