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Published on 27/03/2020 9:59:02 AM | Source: Kedia Advisory

Technical Currency Outlook 27 th March 2020 - USD, EUR, GBP, JPY by Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 75.61-77.17.

* Rupee rose as investors awaited a domestic stimulus to fight the impact of the coronavirus outbreak on an already slowing economy.

* India announced a 1.7-trillion-rupee ($22.6-billion) economic stimulus plan providing direct cash transfers and food security measures.

* The U.S. Senate overwhelmingly backed a $2 trillion bill aimed at helping unemployed workers and industries hurt by the coronavirus epidemic.

 

EURINR

* EURINR trading range for the day is 81.9-83.96.

* Euro dropped as firmness in Rupee weighed as investors are anxiously awaiting the passage of a $2 trillion U.S. stimulus package to offset impact of pandemic.

* ECB President Lagarde supports coronabonds in eurogroup call according to official

* ECB to be broadly in favor of activating OMT if necessary.

 

GBPINR

* GBPINR trading range for the day is 89.42-91.9.

* GBP gained as investors continued to digest the impact of U.K. government's measures to contain the Covid-19 pandemic.

* British banks’ demand for U.S. dollar liquidity from the Bank of England rose to $3.555 billion, the central bank said.

* British consumer price inflation slipped back in February from a six-month high it had reached the month before.

 

JPYINR

* JPYINR trading range for the day is 67.7-69.86.

* JPY dropped as pandemic fears spurred a stampede into the refuge of the world's most powerful currency.

* BoJ Summary of Opinions: Central bank must support smooth corporate financing. Ample liquidity is a priority for   the  time being

* BoJ Summary of Opinions: Can hold emergency meeting as needed and should make most of flexibility in framework.

 

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