Published on 20/09/2019 10:51:50 AM | Source: LKP Securities Ltd

Currency Trading Ideas 20 Sept 2019 - USD, EUR, GBP, JPY by LKP Securities

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

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel 

Download Telegram App before Joining the Channel


*  USDINR trading range for the day is 70.99-71.63.

*  Rupee remained under pressure after rise in crude prices amid reports of Saudi Arabia seeking crude from Iraq to support refineries

*  Fed cut interest rates again to help sustain a record-long economic expansion but signalled a higher bar to further reductions in borrowing costs.

*  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 @ 71.50 SL 71.65 TGT 71.32-71.20. NSE



*  EURINR trading range for the day is 78.52-79.34.

*  Euro recovered on short covering after prices dropped as dollar stood tall after the U.S. Federal Reserve cut rates by 25 basis points, as expected.

*  The U.S. central bank, lowered the Fed funds target rate to a range of 1.75% to 2.00% “in light of the implications of global developments for the economic outlook.”

*  Eurozone inflation was stable in August at its lowest level in nearly three years, latest data from the 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 trading range for the day is 88.45-89.38.

*  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 trading range for the day is 65.64-66.64. # 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


To Read Complete Report & Disclaimer Click Here


For More  LKP Securities Ltd Disclaimer


Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer