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Published on 9/04/2020 1:59:57 PM | Source: Kedia Advisory

EURINR trading range for the day is 82.27-83.77 - Kedia Advisory

Posted in Top Stories| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 75.91-77.11.

* Rupee dropped as investors braced for a prolonged period of uncertainty as coronavirus cases rise.

* The Indian government plans to borrow more aggressively than anticipated in the April-September period.

* The Nikkei Manufacturing Purchasing Managers’ Index, declined to 51.8 last month from February’s 54.5, its lowest since November.

 

EURINR

* EURINR trading range for the day is 82.27-83.77.

* Euro steadied amid disappointing news surrounding the coronavirus outbreak and the economic damage in Europe becomes apparent.

* Eurozone finance ministers struggle to reach an agreement on how to assist ailing member states hit by the coronavirus.

* The Bank of France estimated that the country’s economy contracted 6% in the first quarter due to the lockdown measures put in place

 

GBPINR

* GBPINR trading range for the day is 93.18-95.08.

* GBP gained as risk appetite improved on hopes that lockdowns may be slowing the spread of the coronavirus in some countries.

* Financial institutions' demand for six-month sterling funds from the Bank of England dropped to a four-week low at an operation

* UK labor productivity increased for the second straight time in the fourth quarter of 2019, the Office for National Statistics reported.

 

JPYINR

* JPYINR trading range for the day is 69.46-70.68.

* JPY gained as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing.

* BOJ said it would scale back some operations in the wake of the government’s decision to declare a state of emergency amid the coronavirus pandemic.

* Japan’s core machinery orders unexpectedly rose in February, suggesting business investment remained resilient even as companies braced for a major jolt to demand.

 

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