MENU

Published on 25/04/2019 9:59:57 AM | Source: LKP Securities Ltd

Currency Trading Ideas 25 April 2019 - USD, EUR, GBP, JPY by LKP Securities Ltd

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

Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More

USDINR

* USDINR trading range for the day is 69.81-70.42.

* Rupee dropped tracking strong greenback after US housing data while oil bids helped.

* India’s interest rate setting panel expressed concerns over a slowing economy, according to minutes of its latest monetary policy meeting.

* Most of the six-member MPC agreed on the need to lower interest rates and boost growth as inflation stayed muted, the minutes showed

* RBI Reference Rate for USDINR was at 69.1713.

* BUY USDINR MAY 2019 @ 69.60 SL 69.45 TGT 69.85-69.98. NSE

 

EURINR

* EURINR trading range for the day is 78.67-79.31.

* Euro traded in range as the dollar advanced ahead of the release on Friday of U.S. gross domestic product data for the first three months of 2019.

* The euro area government deficit narrowed at the end of 2018 as revenue increased amid a fall in expenditure, figures published by Eurostat showed.

* Eurozone private sector expanded at the slowest pace for the second successive month in April as manufacturing contracted and service sector growth slowed.

* RBI Reference Rate for EURINR was at 77.7024.

* BUY EURINR MAY 2019 @ 78.45 SL 78.25 TGT 78.64-78.80. NSE

 

GBPINR

* GBPINR trading range for the day is 90.61-91.69.

* GBP dropped as hopes for a breakthrough in Brexit talks between the ruling and opposition parties faded and British PM Theresa May faced growing pressure to quit.

* Volatility in sterling has fallen sharply since the European Union and London agreed this month to delay Britain’s departure date by up to six months.

* Data showing stronger than expected retail sales in March and a slight slowdown in inflation failed to move sterling much last week, as Brexit continues to dominate trading.

* RBI Reference Rate for GBPINR was at 90.4756.

* SELL GBPINR MAY 2019 @ 90.90 SL 91.25 TGT 90.65-90.40. NSE

 

JPYINR

* JPYINR trading range for the day is 62.59-63.05.

* JPY traded in range as risk-on sentiment limited demand for the safe-haven yen.

* Bank of Japan Governor Haruhiko Kuroda said the central bank was ready to expand monetary stimulus if needed.

* Overall nationwide consumer prices in Japan were up 0.5 percent on year in March, the ministry of Internal Affairs and Communications said.

* RBI Reference Rate for JPYINR was at 62.52.

* SELL JPYINR MAY 2019 @ 62.15 SL 62.35 TGT 61.95-61.70. NSE

 

To Read Complete Report & Disclaimer Click Here

 

For More  LKP Securities Ltd Disclaimer  http://www.lkpsec.com/

 

Views express by all participants are for information & acadamic purpose only. Kindly read disclaimer before refering below views. Click Here For Disclaimer