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Published on 14/06/2018 9:59:09 AM | Source: Kedia Commodity Ltd

USDINR trading range for the day is 67.57-67.9 - Kedia Commodity

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

USDINR

USDINR trading range for the day is 67.57-67.9.

Rupee dropped as dollar index remained supported in anticipation FOMC may hint upon raising interest rates at a quicker pace in 2018.

India’s annual retail inflation accelerated to a four-month high in May, driven by higher fuel prices and a depreciating rupee.

India’s annual retail inflation accelerated in May to 4.87 percent, government data showed.

BUY USDINR JUN 2018 @ 67.55 SL 67.40 TGT 67.74-67.88. NSE

EURINR

EURINR trading range for the day is 79.46-79.92.

Euro traded in range amid speculation the ECB could signal intentions to start unwinding its massive bond purchasing programme when it holds its policy meeting.

German investor confidence declined more-than-expected in June to its lowest level in over five-and-a-half years, survey showed.

Germany's business insolvencies decreased in the three months ended March, Destatis reported.

BUY EURINR JUN 2018 @ 79.75 SL 79.50 TGT 79.98-80.20. NSE

GBPINR

GBPINR trading range for the day is 90.07-90.7.

GBP traded in range after British PM May saw off a rebellion in parliament over amendments to a bill for the country’s exit from the EU next year.

May had faced a showdown with lawmakers who wanted the power to force her government to go back to the negotiating table if they reject a Brexit deal.

A minister long critical of the government’s handling of Brexit resigned earlier in protest at what he called its “wish to limit” the role of lawmakers in the process.

BUY GBPINR JUN 2018 @ 90.50 SL 90.20 TGT 90.85-91.10. NSE

JPYINR

JPYINR trading range for the day is 61.15-61.47.

JPY dropped as the dollar seen supported ahead of a Federal Reserve policy meeting that could give clues on how many more U.S. rate hikes there will be this year.

Japan’s core machinery orders in April jumped the most since the start of 2016, reversing the prior month’s decline.

Japan's tertiary activity index increased in April after falling in the previous month, data from the Ministry of Economy, Trade and Industry showed.

BUY JPYINR JUN 2018 @ 61.25 SL 61.00 TGT 61.48-61.60. NSE

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