MENU

Published on 24/01/2020 10:36:32 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 24 Jan 2020 - INR, EUR, GBP by Angel Broking

Posted in Currency Report| #Currency Tips #Angel Broking Pvt Ltd

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

FUNDAMENTAL OUTLOOK

Key Highlights

* US & China sign phase 1 of the trade deal

* ECB remains optimistic on Eurozone

 

Indian rupee

Indian Rupee depreciated by 0.45 percent yesterday AS the Dollar index rose by 0.17 percent during the same time frame. In January 2020 so far the foreign investors have sold about $1.58 billion in debt. The funds flow coupled with the month end Dollar demand led to the depreciation in the Rupee IMF slashed India’s growth forecast by 1.3 percentage points to 4.8% for 2019-20, prompting the agency to also trim its global growth estimates as a result.

CPI data from US came in line with market expectations at 0.2 percent for Dec’19. Core retail sales data from US came in at 0.7 percent for Dec’19 against market expectations of 0.5 percent. Markets wait for the first U.S. Federal Reserve’s meeting in 2020 which is scheduled for 28th -29th January’20.

USDINR is expected to move higher in today’s session

 

Euro

EURUSD depreciated by 0.35 percent yesterday while EURINR appreciated by 0.04 percent the same time frame.

The European Central Bank kept its monetary policy unchanged and stated that the overall situation justifies the negative interest rate environment. Even ECB’s aggressive stimulus measures couldn’t help them achieve their inflation target.

The latest signs of improvement may fall short of confirming a bottom, but for sure are encouraging. German CPI came in line with market expectations at 0.5 percent for Dec’19. German economic sentiment came in at 26.7 for Dec’19 against market expectations of 15.

EURINR is expected to move sideways in today’s session.

 

GBP

GBPUSD depreciated by 0.14 percent yesterday while GBPINR appreciated by 0.32 percent.

Markets expectations of no pull back in the interest rate the Bank of England next week provided some support.

The December election has brought some certainty for Brexit; however, the exit process still remains a puzzle. UK PM Johnson confirmed that he is confident a trade deal with the EU could be achieved before year-end.

GBPINR is expected to move higher in today’s session.

 

 

To Read Complete Report & Disclaimer Click Here

 

Click here to open demat account

 

Please refer disclaimer at https://trade.angelbroking.com/Downloads/ARQ-Disclaimer-Note.pdf

SEBI Registration number is INH000000164

 

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