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Published on 10/07/2020 9:32:42 AM | Source: Kedia Advisory

EURINR trading range for the day is 84.75-85.55 - Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 74.93-75.31.

* USDINR remained in range as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency
* India’s industrial output contracted 37.8% in May from a year earlier, the sharpest fall since current calculations began

* India’s consumer price inflation likely eased in June from March, as loosened coronavirus-led restrictions drove a slight recovery in economic activity

 

EURINR

* EURINR trading range for the day is 84.75-85.55.
* Euro posted gains helped by signs of a German economic recovery and well as hopes of more stimulus for the region in the near future.
* European commission expects the economy to contract by 8.3% this year, which was worse than the previous outlook.
* Recent data from Europe have painted a picture of an economy that is firing on all cylinders.

 

GBPINR

* GBPINR trading range for the day is 94.28-95.5.
* GBP remained supported after Chancellor Rishi Sunak's announcement of his plans to revive the economy.
* British and European Union negotiators kicked off the talks, with the top EU official saying he wanted a deal, "but not at any price".
* Britain is prepared to leave the EU on the same terms as Australia has with the bloc if it cannot agree on a future trading deal, PM Johnson told Germany's Angela Merkel.

 

JPYINR

* JPYINR trading range for the day is 69.86-70.2.
* JPY remained supported as a rally in riskier assets such as global equities and commodities put a dent in safe-haven demand for the U.S. currency.
* The total value of core machine orders in Japan was up a seasonally adjusted 1.7 percent on month, the Cabinet Office said - coming in at 765.0 billion yen
* Japan's current account surplus stood at 1.18 trillion yen ($10.97 billion) in May, Ministry of Finance data showed.

 

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