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Published on 21/09/2020 10:15:57 AM | Source: Kedia Advisory

USDINR trading range for the day is 73.01-73.89 By Kedia Advisory

Posted in Currency Report| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 73.01-73.89.

* USDINR ended with losses as pressure seen after data pointed to a slowdown in the U.S. economic recovery.

* Fed said it expects economic recovery from the coronavirus crisis to accelerate with unemployment falling faster than the central bank expected in June.

* India posted a trade deficit of $6.77 billion in goods in August, data released by the government showed.

 

EURINR

* EURINR trading range for the day is 86.7-87.38

* Euro steadied as dollar dropped amid a batch of generally weak U.S. data and overall uncertainty about the economic outlook

* Germany's economy is expected to contract less than initially projected this year

* Eurozone consumer prices declined in August, as initially estimated, final data from Eurostat showed

 

GBPINR

* GBPINR trading range for the day is 94.73-95.87

* GBP settled flat as traders reacted to the BOE interest rate decision.

* Like the Fed and the BOJ, the Bank of England decided to leave interest rates unchanged.

* The bank also upgraded its outlook for the UK GDP growth.

 

JPYINR

* JPYINR trading range for the day is 69.64-70.96

* JPY pared gains seen amid a batch of generally weak U.S. data and overall uncertainty about the economic outlook

* The Bank of Japan maintained its massive monetary policy stimulus and slightly lifted its assessment about the economy

* Japan's core consumer prices fell at their fastest pace in almost four years in August, dragged mostly by government-sponsored discounts for domestic travel

 

 

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