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Published on 18/01/2019 9:42:56 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 18 January 2019 - INR, EUR, GBP by Angel Broking Pvt Ltd

Posted in Top Stories| #Currency Tips #Angel Broking Pvt Ltd

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FUNDAMENTAL OUTLOOK

Indian rupee

Indian Rupee depreciated by 0.11 percent yesterday while the Dollar Index increased by 0.01 percent despite strengthening green back and easing trade war concerns.

On the trade war front, US is thinking to ease out certain tariffs on China to get a better with them. The Trump administrations have paused their trade war till 1st March amid negotiations to get a better trade deal.

The House on a 237-187 vote passed the latest in a series of bills to end the partial government shutdown with little Republican support. The measure would provide $12.1 billion in disaster aid and reopen the closed agencies and the federal department through Feb 8 but it does not provide the required funds for the border wall eyed by Donald Trump.

USDINR is expected to trade sideways in today’s session.

 

Euro

EURUSD depreciated by 0.02 percent yesterday while EURINR appreciated by 0.06 percent the same time frame.

UK MP’s rejected the Brexit deal yesterday by a massive 423 to 202 votes against the government. The EU and European governments warned Tuesday that the British parliament's rejection of a Brexit deal heightened the risk of a disorderly withdrawal from the bloc. Meanwhile, CPI from Germany came in line with market expectations at 0.1 percent for Dec’18.

EURINR is expected to trade sideways in today’s session.

 

GBP

GBPUSD appreciated by 0.8 percent yesterday while GBPINR depreciated by 0.91 percent during the same time frame.

Prime Minister Theresa May lost her bid to bring the ill-fated Brexit deal through the House of Commons by a huge majority of 230 votes. The tally of 432-202 had 118 Conservatives voting against their own Prime Minister in the most lopsided government loss in history. Meanwhile, PM May won the no confidence vote held against her yesterday. CPI from UK came in line with market expectations at 2.1 percent for Dec’18.

GBPINR is expected to depreciate in today’s session.

 

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