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Kedia Commodities

Published on 18/07/2019 10:06:02 AM

USDINR

* USDINR trading range for the day is 68.61-69.12.

* Rupee ended with losses on buying by nationalised banks likely on behalf of oil importers amid FII outflows from local stocks. 

* The greenback steadied after stronger-than-expected and yet tame US inflation data tempered the prospect of an aggressive Fed interest rate cut this year.

* India’s dominant services activity contracted for the first time in more than a year in June, dragged down by slowing new business growth.

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Choice International Ltd

Published on 18/07/2019 9:51:20 AM

Target Achieved.... Buy JPYINR Fut @ 63.7250 SL 63.60 TGT 63.9125

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Angel Broking Pvt Ltd

Published on 18/07/2019 9:37:58 AM

GBP

GBP increased against USD by 0.23 percent yesterday while GBPINR depreciated by 0.5 percent.

BOE signals that British banks hold enough capital to cope with a no deal Brexit and global trade war simultaneously. Meanwhile, PM candidates Boris Johnson and Jeremy Hunt, both said that the Irish backstop is “dead” adding that they will take it away from any future negotiation with the EU. European politicians have repeatedly said that they won’t renegotiate the withdrawal deal, hence, fears of a hard-Brexit increased. CPI from UK came in line with market expectations at 2 percent for June’19.

GBPINR is expected to appreciate in today’s session

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Angel Broking Pvt Ltd

Published on 18/07/2019 9:37:47 AM

Euro

EURUSD appreciated by 0.12 percent yesterday while EURINR depreciated by 0.25 percent during the same time frame.

The EU released an update on inflation with June CPI in the Union up by 0.2% MoM and by 1.3% YoY, surpassing the market’s expectations. The core readings also ticked higher but held anyway below the ECB’s target. Meanwhile, German economic sentiment data came in at -24.5 against market expectations of –22.1 for June’19.

EURINR is expected to appreciate in today’s session.

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Angel Broking Pvt Ltd

Published on 18/07/2019 9:37:14 AM

Indian rupee

Indian Rupee depreciated by 0.28 percent yesterday while the Dollar decreased by 0.18 during the same time frame. Meanwhile, wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02 per cent in June. Trade deficit narrowed to $15.28 billion in June from $16.6 billion in the same month last year.

Federal Reserve Chair Jerome Powell reiterated a pledge to “act as appropriate” to keep the U.S. economy humming in a speech on Tuesday that validated expectations that an interest rate cut is on the way. Meanwhile, CPI data from US came in at 0.1 percent for June’19 against market expectations of 0 percent. GDP data from China came in line with market expectations at 6.2 percent for second quarter. Retail sales data from US came in at 0.4 percent for June’19 against market expectations of 0.1 percent. Building permits data from US came in at 1.22M against market expectations of 1.3M for June’19.

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

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Choice International Ltd

Published on 17/07/2019 3:57:57 PM

Book Part Profit @ 68.96 & Trail SL to cost...Buy USDINR @ 68.85 SL 68.72 TGT 69.1

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Choice International Ltd

Published on 17/07/2019 2:47:26 PM

Correction: Buy USDINR @ 68.85 SL 68.72 TGT 69.1

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Choice International Ltd

Published on 17/07/2019 2:22:25 PM

Buy USDINR @ 68.85 SL 68.72 TGT 68.91

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Mansukh Securities & Finance Ltd

Published on 17/07/2019 1:03:10 PM

SELL USDINR FUT BELOW 68.73 ( AVERAGE AROUND 68.96-99) SL ABOVE 69.05 TGT 68.60-68.48-68.32.

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Tradebulls Securities (P) Ltd

Published on 17/07/2019 12:54:21 PM

(CurrencyDesk) Intraday call:- Book Full profit in EURINR at 77.21-77.20, TGT Achieved, short given at 77.34-77.35 (Tradebulls Research Desk)

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