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Published on 18/09/2020 9:35:26 AM | Source: Kedia Advisory

JPYINR trading range for the day is 70.05-70.63 By Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 73.56-73.94.
* USDINR gained after the Federal Reserve kept interest rates pinned near zero
* Fed said it expects economic recovery from the coronavirus crisis to accelerate with unemployment falling faster than the central bank expected in June.
* India posted a trade deficit of $6.77 billion in goods in August, data released by the government showed.

 

EURINR

* EURINR trading range for the day is 86.46-87.34.
* Euro dropped as the U.S. dollar gained after the Federal Reserve kept interest rates pinned near zero
* The euro area trade surplus increased for the third straight month in July to reach pre-pandemic levels, data published by Eurostat showed.
* Eurozone hourly labor cost increased at a faster rate in the second quarter, data from Eurostat revealed.

 

GBPINR

* GBPINR trading range for the day is 94.67-95.99.
* GBP dropped as dollar strengthened following the U.S. Fed meeting, while investors' attention turned to BOE’s policy meeting.
* British Prime Minister Boris Johnson said that if no agreement is reached, the UK would have to accept a no-deal Brexit scenario.
* The data showed that the British consumer price index rose 0.2% in August, and the core reading rose by 0.9%.

 

JPYINR

* JPYINR trading range for the day is 70.05-70.63.
* JPY gained as the U.S. Federal Reserve's dovish tone supported.
* Japan’s new Prime Minister Yoshihide Suga pledged that he will do his best to protect employment while also countering the coronavirus.
* Japan had a merchandise trade surplus of 248.299 billion yen in August, the Ministry of Finance said.

 

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