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Published on 2/09/2020 10:34:08 AM | Source: Kedia Advisory

USDINR trading range for the day is 72.61-73.77 By Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

USDINR trading range for the day is 72.61-73.77.

USDINR dropped as broad-based dollar weakness deepened in the wake of the Federal Reserve's new policy framework

India’s factory activity grew in August for the first time in five months as the easing of lockdown restrictions spurred a rebound in domestic demand

Investors also looked past data that showed India suffered its worst economic contraction on record and focused on a private business survey

 

EURINR

EURINR trading range for the day is 87-88.48.

Euro prices ended with flat note due to weak euro zone inflation data.

Euro zone inflation turned negative last month for the first time since May 2016

A recovery in local manufacturing activity continued through August, a survey showed.

 

GBPINR

GBPINR trading range for the day is 97.52-99.1

GBP remained supported as the dovish message from the U.S. Federal Reserve sent the greenback lower.

British business confidence has ticked up but remains far below usual levels as the economy struggles

GBP/USD price surged above the $1.33 handle for the first time in 2020 on dovish Fed

 

JPYINR

JPYINR trading range for the day is 68.72-69.78.

JPY dropped after a longtime lieutenant of Shinzo Abe reportedly joined the race to succeed him as Japan’s leader

Yoshihide Suga, Chief Cabinet Secretary to Abe, would be expected to extend the fiscal and monetary stimulus that defined Abe’s term in government.

Japan’s factory output rose in July at the fastest pace on record, driven by automobiles and car parts, signaling a gradual recovery

 

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