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Published on 16/08/2019 10:55:20 AM | Source: LKP Securities Ltd

Currency Trading Ideas 16 Aug 2019 - USD, EUR, GBP, JPY by LKP Securities

Posted in Currency Report| #Currency Tips #LKP Securities Ltd

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USDINR

* USDINR trading range for the day is 70.74-71.79.

* Rupee gained on improved risk appetite following the US President Donald Trump's decision to delay additional tariffs on some Chinese goods

* Annual retail inflation in July was 3.15%, down from an eight-month high of 3.18% in June, but below forecasts, data from the Ministry of Statistics showed.

* India’s industrial output grew 2% in June from a year earlier, government data showed.

* RBI Reference Rate for USDINR was at 69.1713.

* BUY USDINR AUG 2019 @ 71.10 SL 70.96 TGT 71.28-71.42. NSE

 

EURINR

* EURINR trading range for the day is 79-80.47. 

* Euro fell as political uncertainty in parties in Italy continued.

* Germany's economy contracted in the second quarter on weak exports, data from Destatis showed.

* The mood among German investors slid far more than expected in August, a survey showed.

* RBI Reference Rate for EURINR was at 77.7024.

* SELL EURINR AUG 2019 @ 78.00 SL 78.32 TGT 77.72-77.64. NSE

 

GBPINR

* GBPINR trading range for the day is 85.26-86.94.

* GBP dropped as concerns about a no-deal Brexit dominated sentiment despite data showing wage growth in the United Kingdom rose to an 11-year high.

* British Prime Minister Boris Johnson said that the most important free trade deal that Britain needed to strike was with the European Union.

* Britain’s labour market showed unexpected strength in the second quarter with total earnings growth, rising by an annual 3.7%.

* RBI Reference Rate for GBPINR was at 90.4756.

* SELL GBPINR AUG 2019 @ 89.10 SL 89.45 TGT 88.85-88.65. NSE

JPYINR

* JPYINR trading range for the day is 66.01-68.6.

* JPY dropped as dollar surged after the U.S. Trade Representative delayed tariffs on a number of items.

* Japan’s core machinery orders unexpectedly rebounded in June to post their largest monthly expansion on record

* BOJ members emphasized that it should continue considering easing sustainability and that it remains appropriate to control bond yields flexibly

* RBI Reference Rate for JPYINR was at 62.52.

* SELL JPYINR AUG 2019 @ 63.40 SL 63.70 TGT 63.15-63.02. NSE

 

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