Published on 18/04/2019 9:59:10 AM | Source: LKP Securities Ltd

Currency Trading Ideas 18 April 2019 - USD, EUR, GBP, JPY by LKP Securities Ltd

Posted in Currency Report| #Currency Tips #LKP Securities Ltd

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* USDINR trading range for the day is 68.86-70.2.

* Rupee continued its weakness and ended with losses tracking a strong dollar amid buying by oil importers.

* Merchandise exports rose 11.02 percent to $32.55 billion in March from a year earlier, while imports were up 1.44 percent to $43.44 billion during the same period

* The Reserve Bank of India (RBI) will remain vigilant and strive to revive growth in Asia’s third-largest economy, as well as pushing to maintain macroeconomic.

* RBI Reference Rate for USDINR was at 69.1713.

BUY USDINR APR 2019 @ 69.45 SL 69.20 TGT 69.64-69.78. NSE



* EURINR trading range for the day is 78.58-79.11.

* Euro trading in range as investors focused on European manufacturing data due on Thursday for signs that growth in the region is improving.

* Germany's wholesale price inflation rose further in March, data from Destatis revealed.

* Improving European data would likely bolster risk appetite and send equities prices higher.

* RBI Reference Rate for EURINR was at 77.7024.

* SELL EURINR APR 2019 @ 78.60 SL 78.95 TGT 78.34-78.20. NSE



* GBPINR trading range for the day is 90.99-91.51.

* GBP trading in range without any significant Brexit-related developments.

* Volatility in the pound has collapsed since EU leaders and the British government last week announced Brexit would be delayed for up to six months.

* The UK economy expanded for the second straight month, but at a slower pace, in February, figures from the ONS showed.

* RBI Reference Rate for GBPINR was at 90.4756.

* SELL GBPINR APR 2019 @ 91.10 SL 91.45 TGT 90.85-90.60. NSE



* JPYINR trading range for the day is 62.11-62.57.

* JPY trading in range with investors erring on the side of caution as they looked for more concrete signs of stabilization in the global economy.

* BoJ Governor Kuroda says can cut interest rates further if needed, adds that there is further room for monetary easing

* Japan Economy Minister Toshimitsu Motegi just finished his first trade discussion with USTR Robert Lighthizer.

* RBI Reference Rate for JPYINR was at 62.52.

* SELL JPYINR APR 2019 @ 62.15 SL 62.40 TGT 61.98-61.80. NSE


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