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Published on 26/10/2020 10:56:54 AM | Source: Kedia Advisory

USDINR trading range for the day is 73.4-73.82.- Kedia Advisory

Posted in Top Stories| #Currency Tips #Kedia Advisory

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USDINR

* USDINR trading range for the day is 73.4-73.82.
* USDINR remained within a tight range less than two weeks before the U.S. presidential election, with traders looking for a breakthrough in stimulus talks
* 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

* EURINR trading range for the day is 86.56-87.6.
* Euro recovered after dropping earlier as a measured U.S. presidential debate left investors in a cautious mood.
* Eurozone consumer confidence weakened more-than-expected to its lowest level in five months in October
* German consumer confidence is set to weaken in November, survey data showed

GBPINR

* GBPINR trading range for the day is 95.75-96.75.
* GBP dropped on uncertainty over Brexit outlook after price seen supported on news that stalled Brexit negotiations were due to resume.
* EU Brexit negotiator Michael Barnier, seeking to intensify talks with his British counterpart David Frost to find a solution to key sticking points
* UK manufacturers expect production to grow at a moderate pace and orders to remain unchanged over the coming quarter.

JPYINR

* JPYINR trading range for the day is 70.05-70.55.
* JPY remained in range after U.S. House Speaker Nancy Pelosi said there was progress in stimulus talks.
* The manufacturing sector in Japan continued to contract in October, albeit at a slower pace, the latest survey from Jibun Bank revealed
* Consumer prices in Japan were down a seasonally adjusted 0.1 percent on month in September

 

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