Published on 17/05/2019 10:03:26 AM | Source: Kedia Commodity Ltd

Technical Currency Outlook 17 May 2019 - USD, EUR, GBP, JPY by Kedia Commodity

Posted in Currency Report| #Kedia Commodity Ltd #Currency Tips

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* USDINR trading range for the day is 69.87-70.55.

* Rupee gained as risk appetite improved on expectation that President Trump may delay imposing auto tariffs on Chinese. 

* India’s trade deficit widened to $15.33 billion in April from a year ago, the trade ministry said in a statement. 

* Merchandise exports remained almost flat at $26.07 billion in April compared with a year earlier, while imports were up 4.5% at $41.40 billion, data showed. 



* EURINR trading range for the day is 78.41-79.16. 

* Euro remained in range after administration officials said that U.S. President Donald Trump is expected to delay a decision on tariffs on imported cars and parts by up to six months. 

* ECB Peter Praet says that Euro-zone economic policy uncertainty is relatively high

* German Chancellor Merkel says the EU needs a close relationship with the UK after 



* GBPINR trading range for the day is 89.39-91.12.

* GBP dropped on growing expectations that Prime Minister Theresa May will again fail to get her Brexit deal approved and could soon face a leadership challenge. 

* Sterling has weakened this month as deadlocked cross-party talks expose deep political divisions over how, when and even if Brexit should take place.

* British employment data showed wage growth in the quarter ending March was lower than expected, signalling the possible start of a turbulent period for the broader economy. 



* JPYINR trading range for the day is 63.37-65.09. 

* JPY remained in range after weak economic data in China raised new concerns about growth there.

* BoJ's Kuroda: Not considering additional easing now, need to continue easing as price goal remains distant 

* Bank of Japan's Governor Haruhiko Kuroda: Will consider further easing if price momentum is lost. Rates, asset purchases are among easing options


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