Published on 26/04/2019 9:22:53 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 26 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 70.09-70.83.

* Rupee broke through the psychological Rs 70/$1 mark helped by the overall dollar rally.

* India’s annual retail inflation rate rose in March to 2.86 percent, from 2.57 percent in the previous month, but remained below the central bank’s target

* India's foreign exchange (forex) reserves increased by $5.23 billion during the week ended March 29, official data showed.



* EURINR trading range for the day is 78.47-79.02.

* Euro remained under pressure after renewed worries about a growth slowdown in Germany.

* The European Central Bank pushed back plans for its first post-crisis interest rate hike.

* German business morale deteriorated in April, a survey showed, bucking expectations for a small rise.



* GBPINR trading range for the day is 90.64-91.34.

* GBP dropped amid fading hopes of a breakthrough in Brexit talks between the British government and the opposition.

* PM May told her top team of ministers that talks with the opposition Labour Party aimed at finding a way forward on Brexit were serious but difficult in some areas.

* Data showed speculative net positions in the pound turned slightly in favour of holding long sterling positions for the first time since June 2018.



* JPYINR trading range for the day is 62.71-63.44.

* JPY gained as worries about global economic growth lifted the appeal of safe-haven assets.

* Bank of Japan cites uncertainties over sales tax hike and overseas economies, downgrades view on business sentiment

* Japan Finance Minister Toshimitsu Motegi will be meeting with USTR Robert Lighthizer on April 25


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