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Published on 1/09/2020 9:55:15 AM | Source: Kedia Advisory

Euro remained supported as investors reacted to positive economic data from Europe By Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 72.83-74.21.

* Rupee retreated from near six-month highs on the border tensions.

* RBI Governor Shaktikanta Das told he does not think there will be stagflation and that the consumer inflation should moderate

* India cenbank announces measures to ensure orderly market conditions

 

EURINR

* EURINR trading range for the day is 86.89-88.37.

* Euro remained supported as investors reacted to positive economic data from Europe.

* According to the European Commission, the economic sentiment indicator increased by 5.3 points to 87.7 in August.

* According to the German statistics office, import prices declined by 4.6% in July year-on-year.

 

GBPINR

* GBPINR trading range for the day is 97.29-98.75.

* GBP remained supported as the dovish message from the U.S. Federal Reserve sent the greenback lower.

* British business confidence has ticked up but remains far below usual levels as the economy struggles

* GBP/USD price surged above the $1.33 handle for the first time in 2020 on dovish Fed

 

JPYINR

* JPYINR trading range for the day is 68.9-70.2.

* JPY steadied after a longtime lieutenant of Shinzo Abe reportedly joined the race to succeed him as Japan’s leader.

* Yoshihide Suga, Chief Cabinet Secretary to Abe, would be expected to extend the fiscal and monetary stimulus that defined Abe’s term in government.

* Japan’s factory output rose in July at the fastest pace on record, driven by automobiles and car parts, signaling a gradual recovery

 

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