Published on 23/10/2020 9:31:31 AM | Source: Kedia Advisory

EURINR trading range for the day is 86.81-87.53. - Kedia Advisory

Posted in Top Stories| #Currency Tips #Kedia Advisory

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* USDINR trading range for the day is 73.4-73.96.
* USDINR dropped as hopes of a fiscal package in the United States ahead of the November elections crumbled once again.
* The Indian economy will suffer its deepest contraction on record this fiscal year and recent government stimulus does not go far enough to significantly boost activity
* After shrinking a record 23.9% in the April-June quarter, the Indian economy was forecast to contract 10.4% and 5.0% in the third and fourth quarter


* EURINR trading range for the day is 86.81-87.53.
* Euro dropped as dollar gained reversing losses as the focus remains squarely on the U.S. Congress’ progress towards passing the latest stimulus measures.
* The euro area current account surplus increased in August, the European Central Bank said
* Germany's producer prices continue to fall in September


* GBPINR trading range for the day is 96.04-97.1.
* GBP gains as the U.K. and EU are set to resume Brexit talks after Britain welcomed the economic bloc's desire to break the impasse in negotiations.
* Post-Brexit trade talks are set to get underway after EU Brexit negotiator Michael Barnier said a deal was in reach
* The U.K. signaled it was ready to intensify talks to thaw key sticking issues including fishing rights, and sovereign aid.



*JPYINR trading range for the day is 70.15-70.57.
* JPY remained in range as dollar steadied by the extent of progress made on the potential size of the aid package.
* Japan's tertiary activity rose for the third straight month in August, data from the Ministry of Economy, Trade and Industry showed.
* Japan posted a merchandise trade surplus of 674.978 billion yen in September, the Ministry of Finance said.


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