Published on 25/04/2019 9:23:19 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 25 April 2019 - USD, EUR, GBP, JPY by Kedia Commodity Ltd

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

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* USDINR trading range for the day is 69.81-70.42.

* Rupee dropped tracking strong greenback after US housing data while oil bids helped.

* India’s interest rate setting panel expressed concerns over a slowing economy, according to minutes of its latest monetary policy meeting.

* Most of the six-member MPC agreed on the need to lower interest rates and boost growth as inflation stayed muted, the minutes showed



* EURINR trading range for the day is 78.67-79.31.

* Euro traded in range as the dollar advanced ahead of the release on Friday of U.S. gross domestic product data for the first three months of 2019.

* The euro area government deficit narrowed at the end of 2018 as revenue increased amid a fall in expenditure, figures published by Eurostat showed.

* Eurozone private sector expanded at the slowest pace for the second successive month in April as manufacturing contracted and service sector growth slowed.



* GBPINR trading range for the day is 90.61-91.69.

* GBP dropped as hopes for a breakthrough in Brexit talks between the ruling and opposition parties faded and British PM Theresa May faced growing pressure to quit.

* Volatility in sterling has fallen sharply since the European Union and London agreed this month to delay Britain’s departure date by up to six months.

* Data showing stronger than expected retail sales in March and a slight slowdown in inflation failed to move sterling much last week, as Brexit continues to dominate trading.



* JPYINR trading range for the day is 62.59-63.05.

* JPY traded in range as risk-on sentiment limited demand for the safe-haven yen.

* Bank of Japan Governor Haruhiko Kuroda said the central bank was ready to expand monetary stimulus if needed.

* Overall nationwide consumer prices in Japan were up 0.5 percent on year in March, the ministry of Internal Affairs and Communications said.


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