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Published on 19/09/2019 10:45:05 AM | Source: LKP Securities Ltd

Currency Trading Ideas 19 Sept 2019 - USD, EUR, GBP, JPY by LKP Securities

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

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USDINR

* USDINR trading range for the day is 71-71.81.

* Rupee gained tracking weakness in dollar amid easing crude oil prices and Fed policy.

* Merchandise exports fell 6.05% to $26.13 billion in August compared with a year earlier, while imports were down 13.45% at $39.45 billion, the data showed

* India’s retail inflation rate increased to a 10-month high in August but stayed below the central bank’s 4% medium-term target

* RBI Reference Rate for USDINR was at 69.1713.

SELL USDINR SEP 2019 @ 71.80 SL 71.95 TGT 71.62-71.45. NSE

 

EURINR

* EURINR trading range for the day is 78.36-79.64.

* Euro dropped on profit booking after seen supported as an influential survey showed a brightening in German investor confidence.

* Mario Draghi, announced in his final policy session to boost the euro area economy as the bank slashed the growth and inflation forecasts.

* The euro area trade surplus increased in July on higher exports, data from Eurostat showed.

* RBI Reference Rate for EURINR was at 77.7024.

SELL EURINR SEP 2019 @ 78.00 SL 78.32 TGT 77.72-77.64. NSE

 

GBPINR

* GBPINR trading range for the day is 88.27-89.72.

* GBP remained in range as Prime Minister Boris Johnson stuck to his pledge to take Britain out of the European Union by Oct. 31.

* Prime Minister Johnson is required by a law passed this month to ask the EU for a three-month delay to Brexit if a deal is not approved by Oct. 19

* With less than seven weeks until the Brexit deadline, Johnson is hoping a Brexit deal can be clinched at an EU summit on Oct. 17-18.

* RBI Reference Rate for GBPINR was at 90.4756.

SELL GBPINR SEP 2019 @ 89.10 SL 89.45 TGT 88.85-88.65. NSE

 

JPYINR

* JPYINR trading range for the day is 65.72-66.35.

* JPY dropped as the dollar rose as oil markets slowly recovered from a supply shock.

* Japan posted a merchandise trade deficit of 136.329 billion yen in August, the Ministry of Finance said.

* Japan's industrial production expanded as estimated in July, final data from the Ministry of Economy, Trade and Industry showed.

* RBI Reference Rate for JPYINR was at 62.52.

SELL JPYINR SEP 2019 @ 63.40 SL 63.70 TGT 63.15-63.02. NSE

 

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