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Published on 24/07/2020 9:10:51 AM | Source: Kedia Advisory

JPYINR trading range for the day is 69.52-70.06 By Kedia Advisory

Posted in Top Stories| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 74.51-75.05.
* USDINR gained as concerns mounted over tensions between the United States and China after Washington closed a Chinese consulate in Houston, Texas.
* Banking Sector Is Holding Back India’s Growth, Says Chief Economic Adviser
* India and the United States are closing in on a trade deal, India's Commerce Minister Piyush Goyal said, after two years of negotiations.

EURINR

* EURINR trading range for the day is 86.16-87.
* Euro strengthened as risk-on moves continue in the wake of a fiscal stimulus deal reached by European Union leaders.
* The mood remained largely optimistic, however, following the EU’s agreement on a 750 billion-euro recovery fund to share the debts incurred
* Currency traders largely shrugged off U.S.-China tensions, although risk appetite in currency markets briefly diminished
 

GBPINR
* GBPINR trading range for the day is 94.74-95.5.
* GBP gained with traders looking out for any headlines that may shine some light on whether Britain could walk away from the European Union with a deal
* Data showed British government borrowing hit a record 127.9 billion pounds ($162 billion) in the first three months of the financial year
* Britain's debt levels are rising as it scrambles for ways to prevent a possible wave of COVID-19-induced unemployment.

JPYINR

* JPYINR trading range for the day is 69.52-70.06.
* JPY remained in range as heightened Sino-U.S. tension put a bit of caution into currency markets.
* Japan’s exports suffered a double-digit decline for the fourth month in a row in June as the coronavirus pandemic took a heavy toll on global demand
* U.S.-bound Japanese shipments nearly halved again due to plunging demand for cars and autoparts, while exports to China remained weak

 

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