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Published on 18/02/2020 9:48:15 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 18th February 2020 - 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 71.18-71.62.

* USDINR declined on fresh selling with stimulus in China sending dollar lower

* Yesterday thin trading was seen because of the Presidents Day holiday in the United States.

* Limiting the gains in the rupee has been a recovery in oil prices.

 

EURINR

* EURINR trading range for the day is 77.3-77.7.

* Euro continuous to trade lower nears 34-Week low following poor data

* The euro’s poor performance follows an ugly week on the economic front last week.

* ECB president Christine Lagarde highlighting the positive effects of the Bank’s policies

 

GBPINR

* GBPINR trading range for the day is 92.52-93.62.

* Pound stays modestly negative amid hard Brexit fears.

* Fears of coronavirus have been conveyed by Moody’s and the IMF

* Brexit is likely the key catalysts that market players will follow for short-term direction.

 

JPYINR

* JPYINR trading range for the day is 64.8-65.29.

* Yen remains on the back foot despite disappointing Japan GDP data.

* Coronavirus/Brexit updates could entertain traders on the US President’s Day Holiday.

* Preliminary fourth-quarter GDP data out of Japan showed a steeper contraction than expected

 

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