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Published on 12/12/2019 10:27:06 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 12 December 2019 - USD, EUR, GBP, JPY by Kedia Commodity

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips

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USDINR

* USDINR trading range for the day is 70.77-71.17.

* Rupee ended with gains on buying by foreign banks amid likely corporate and overseas fund inflows.

* Investors awaited the outcome of Fed meeting and drew some support from hopes that U.S. President Donald Trump will delay the imposition of tariffs on Chinese goods

* India's growth is now seen at a slower 5.1% in fiscal year 2019

 

EURINR

*  EURINR trading range for the day is 78.55-78.94.

* Euro remained in range as after release of a better-than-expected German economic sentiment survey.

* The ZEW research institute's monthly index on economic morale among German investors showed the mood improved far more than forecast in December

* Investors awaited developments from central bank meetings in the United States and Europe and as a Dec. 15 deadline for the next wave of U.S. tariffs on Chinese goods.

 

GBPINR

* GBPINR trading range for the day is 92.93-93.74.

* GBP dropped as weak economic growth data and kept an eye on the final days of campaigning before Britain's general election.

* Industrial output fell by 0.7% in the three months to October and the services sector grew by 0.2%, its weakest increase since June, the data showed.

* Prime Minister Boris Johnson's Conservative Party has vowed to take Britain out of the European Union on Jan. 31.

 

JPYINR

* JPYINR trading range for the day is 65.19-65.62.

* JPY continues its weak trend ahead of central bank meetings and a looming tariff deadline later this week.

* Japan's current account surplus stood at 1.82 trillion yen ($16.76 billion) in October, Ministry of Finance data showed

* Japan's Economy Minister Yasutoshi Nishimura: See Japan's economy as gradually recovering, consumption drop not as large as after last tax hike

 

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