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Swastika Investmart Ltd

Published on 6/05/2021 10:55:30 AM

EURINR (27 may) is moving near at it’s support of the descending trendline and it is near retesting level from this level it may move bounce back to upside, so based on these analysis we can go long on the EURINR for the day.

Technical View:

* Bearish move can be seen in currency for the day

 

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Swastika Investmart Ltd

Published on 6/05/2021 10:55:18 AM

News in headline:

* GBP/USD Holds Gains Ahead of BoE Decision, Scottish Election

* Dollar holds near two-week high, U.S. jobs data eyed for Fed clues

* Euro US Dollar Exchange Rate Dips as US Economic Outlook Continues to Improve

 

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Kedia Commodities

Published on 6/05/2021 10:53:59 AM

JPYINR

JPYINR trading range for the day is 67.78-68.09.

JPY settled flat as the dollar tried to extend a rally as chatter about the possibility of higher U.S. interest rates soured risk sentiment to the benefit of the safe-haven currency.

The au Jibun Bank Japan Manufacturing PMI rose to 53.6 in April, the 3rd straight month of growth and the strongest since April 2018

While the consumer confidence index decreased by 1.4 points from the previous month to 34.7.

 

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Kedia Commodities

Published on 6/05/2021 10:53:45 AM

GBPINR

GBPINR trading range for the day is 102.97-103.49.

GBP gained as UK manufacturing sector grew at the fastest pace on record in April underpinned by production and new orders

Support also seen amid signs the UK economy is rebounding from the pandemic, helped by the country's gradual reopening of its economy

The BoE is expected to announce tapering, or a reduction in the pace of its bond purchases at its meeting.

 

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Kedia Commodities

Published on 6/05/2021 10:53:28 AM

EURINR

EURINR trading range for the day is 88.91-89.53.v

Euro settled flat as the Eurozone manufacturing activity logged a record expansion in April

Driven by rising market confidence, manufacturing output and new orders remained close to March's survey records.

Germany's retail sales grew at a much faster pace in March, data from Destatis showed.

 

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Kedia Commodities

Published on 6/05/2021 10:53:15 AM

USDINR

USDINR trading range for the day is 74.05-74.45.

USDINR remained in range after RBI announced new loan-relief measures for small businesses and pledged to inject INR 500 billion of liquidity

RBI Governor Das says forex reserves of USD 588 billion give us the confidence to deal with global spillovers.

The IHS Markit India Services PMI declined to 54.0 in April of 2021 from 54.6 in the previous month

 

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Geojit Financial Services Ltd.

Published on 6/05/2021 10:49:21 AM

OUTLOOK - USDINR

Rupee opened flat at 73.86, from its previous close against the US dollar and it finally closed a net 6paise lower at 73.91 yesterday. USDINR had gained as far as the intraday high of 73.78 and fell to an intraday low of 74.04. The dollar index which compares the strength of the dollar against 6 major currencies fell 0.02% and closed at 91.26. Brent crude futures fell 1.05% to trade at $69.22/barrel. USDINR near futures are at 74.1950 with the next support seen at 74.1233 and next resistance seen at 74.3183 ahead of market opening today.

 

 

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Geojit Financial Services Ltd.

Published on 6/05/2021 10:49:10 AM

News Box

* USDINR closed 6 paise lower at 73.91 yesterday

* FBIL set the reference rate for USDINR at 74.4042 and Euro at 89.783

* Economic data for US and Euozone and monetary policy of BoE in focus today

* BoJ policymakers agree to focus on lower rates as covid situation persists

* Fed's Rosengren: Need more time toweigh economic progress, too soon to talk tapering

* ECB chief economist Lane downplays prospects of durable inflation

 

 

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Tradebulls Securities (P) Ltd

Published on 6/05/2021 10:40:01 AM

Intraday call :- Buy USDINR around 74.21-74.19 TGT 74.34 Stoploss 74.07(Tradebulls Research Desk)

 

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Kedia Commodities

Published on 6/05/2021 10:38:07 AM

President Biden:
- I would not want to go into deficit spending
- I am willing to work out a compromise on the corporate tax rate

 

 

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