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Published on 25/04/2019 9:37:55 AM | Source: Angel Broking Pvt Ltd

Fundamental Outlook 25 April 2019 - INR, EUR, GBP by Angel Broking Pvt Ltd

Posted in Currency Report| #Currency Tips #Angel Broking Pvt Ltd

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FUNDAMENTAL OUTLOOK

 Indian rupee

Indian Rupee depreciated by 0.27 percent yesterday while the Dollar Index increased by 0.55 percent. Spike in crude oil prices created high volatility in rupee yesterday. Meanwhile, RBI conducted the second phase of the rupee-dollar swap for $5billion for a period of three years.

Global worries ease off after optimistic comments by officials of both the countries over a possible trade deal between US and China. They have also scheduled additional meets between top officials in the next week as they approach the final rounds of their talks. The talks so far have focused on a range of issues including forced technology transfer, theft of intellectual property, as well as structural reforms. According to market reports, US FED is likely to purchase $300 billion in US government securities in open market post the normalization of balance sheet ends in September.

USDINR is expected to depreciate in today’s session

 

Euro

EURUSD depreciated by 0.65 percent yesterday while EURINR depreciated by 0.05 percent the same time frame.

The shared currency was also hurt by comments from EU Centeno, who said that Italy's weak economic growth is worrisome for the area's finance ministers. Overall, data convinced market players on the health imbalance in European economies, also highlighting divergent paths from central banks, as the ECB is back to adding stimulus. German business climate came in at 99.2 against market expectations of 99.2 for Mar’19.

EURINR is expected to appreciate in today’s session.

 

GBP

GBP declined against USD by 0.29 percent yesterday while GBPINR remained flat.

EU members are ready to provide extension till 31st Oct 2019. Also, Talks between PM May and Labour leader Corbyn came to no right end, stalling last week amid May holding on to her 'red lines' as Corbyn said. Conservatives have already tried to ousted May last December, and the rules state that they can't challenge her authority within the first year afterward, although rules can always be changed.

GBPINR is expected to move sideways in today’s session.

 

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