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Published on 21/01/2019 9:40:41 AM | Source: Kedia Commodity Ltd

Currency Trading Ideas 21 January 2019 - USD, EUR, GBP, JPY by Kedia Commodity

Posted in Top Stories| #Kedia Commodity Ltd #Currency Tips

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USDINR

* USDINR trading range for the day is 71-71.45.

* Rupee ended down on dollar buying by nationalised banks for oil importers amid likely overseas fund outflow from local stocks.

* Market has turned sceptical regarding the achievement of the fiscal deficit target after Arun Jaitley's speech.

* India’s top business groups urged the central bank to cut its benchmark interest rate by at least half a percentage point.

* BUY USDINR 29 JAN 2019 @ 70.95 SL 70.80 TGT 71.15-71.35. NSE

 

EURINR

* EURINR trading range for the day is 81-81.52.

* Euro traded in range on report that U.S. Treasury Secretary Steven Mnuchin had considered easing tariffs imposed on Chinese imports.

* Inflation data for the European Union showed price pressures receding further from the central bank’s target.

* Germany reported its economy grew by 1.5 percent in 2018, the weakest rate of expansion in five years

* SELL EURINR 29 JAN 2019 @ 81.05 SL 81.38 TGT 80.76-80.56. NSE

 

GBPINR

* GBPINR trading range for the day is 91.82-92.76.

* GBP gains extending recent gains on growing expectations that Britain can avoid a no-deal Brexit.

* PM May: The UK government has won confidence of Parliament, this now gives us all the opportunity to focus on finding a way forward on Brexit

* Britain would vote to stay in the EU by a 12 percentage point margin if it was given another vote, the highest level since the shock 2016 Brexit referendum

* BUY GBPINR 29 JAN 2019 @ 92.25 SL 91.80 TGT 92.75-93.00. NSE

 

JPYINR

* JPYINR trading range for the day is 64.86-65.44.

* JPY dropped as the dollar was firm as growing optimism of progress in Sino-U.S. trade talks supported broader appetite for risk.

* Japan’s key inflation gauge slowed in the first back-to-back decline since April, highlighting the difficulty of the Bank of Japan’s price goal.

* Consumer prices excluding fresh foods rose 0.7 percent from a year earlier in December

* SELL JPYINR 29 JAN 2019 @ 65.00 SL 65.30 TGT 64.75-64.56. NSE

 

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