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Published on 11/12/2019 10:32:24 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 11 December 2019 - USD, EUR, GBP, JPY by Kedia Commodity

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips

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USDINR

* USDINR trading range for the day is 70.85-71.25.

* Rupee ended with gains on selling by foreign banks amid likely corporate inflows

* Rupee gained aided by optimism around likely progress in US-China trade talks amid continuous corporate flows supporting demand

* Investors now await the upcoming Federal Open Market Committee Dec monetary policy statement release due later this week

 

EURINR

* EURINR trading range for the day is 78.58-78.94.

* Euro remained in range amid uncertainty over whether the U.S. and China will be able finalize a partial trade deal and avoid a ramp-up in trade tensions.

* Eurozone's investor confidence improved for a second straight month to its highest level since May

* German exports expanded unexpectedly despite trade conflicts and global slowdown, while imports remained flat in October, official data revealed.

 

GBPINR

* GBPINR trading range for the day is 93.14-94.

* GBP dropped as the dollar with investors on edge ahead of a looming tariff deadline and the UK election.

* Dollar held firm after data showed surprise strength in the U.S. jobs market

* The UK economy stagnated in October as growth in industrial and service sectors were offset by contraction in construction

 

JPYINR

* JPYINR trading range for the day is 65.32-65.76

* JPY dropped on lingering doubts about a fresh round of U.S. tariffs on Chinese imports against the backdrop of positive commentary on progress in trade talks.

* The M2 money stock in Japan was up 2.8 percent on year in November, the Bank of Japan said - coming in at 1,038.4 trillion yen.

* A measure of the public assessment of the Japanese economy rose in November after falling in the previous month, survey data from the Cabinet Office showed

 

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