Kedia Commodities
Published on, 23/01/2018 9:08:38 AM

JPYINR

* JPYINR trading range for the day is 57.47-57.92.

* JPY traded in range as the dollar fell as the Senate moved to schedule a vote at noon on the day to fund the government for three weeks.

* Japan's industrial production increased less than initially estimated in November, latest figures from the Ministry of Economy, Trade and Industry showed.

* The value of core machine orders in Japan surged a seasonally adjusted 5.7 percent on month in November, the Cabinet Office said.

Kedia Commodities
Published on, 23/01/2018 9:08:25 AM

GBPINR

* GBPINR trading range for the day is 88.48-89.09.

* GBP traded in range after disappointing UK retail sales data dented broadening optimism about a currency that is enjoying its best winning streak since 2014.

* Figures from the Office for National Statistics showed 2017 was the weakest year for retail since 2013 and a drop in sales of 1.5 percent from November.

* The tepid retail sales figures rounds off a week of disappointing data for sterling bulls, including a softening of UK inflation in December.

 

Kedia Commodities
Published on, 23/01/2018 9:06:42 AM

EURINR

* EURINR trading range for the day is 77.99-78.58.

* Euro dropped as the dollar regained some footing after slipping on a U.S. government shutdown, supported by higher Treasury yields.

* Germany's producer price inflation eased in December, figures from Destatis showed.

* Weidmann defended Germany's large budget and current account surpluses after the IMF’s Lagarde said government should make use of surpluses to promote growth.

 

Kedia Commodities
Published on, 23/01/2018 9:06:31 AM

USDINR

* USDINR trading range for the day is 63.62-64.19.

* Rupee gained led by financial stocks amid improved investor sentiment after the government decided to cut tax rates on certain products and services.

* India’s December trade deficit widened to its highest in more than three years as higher import bills for gold and crude oil weighed on rising exports.

* Further, sustained foreign funds inflow tracking firm trend in other global bourses also boosted local investors' sentiment.


 

IIFL Wealth Management Ltd
Published on, 22/01/2018 2:26:09 PM

FX

US dollar struggled amid the legislative deadlock over fiscal spending bill, however, there is a hope of resolution soon which willtake care of the long-term funding to the government. Republicans are trying to find a way out by reconciling over contentious issues with the Democrats in the Senate.

Click Here - http://ow.ly/vwQ630hUT74

Choice International Ltd
Published on, 22/01/2018 11:40:17 AM

JPYINR

Technical View:

JPYINR price has moved above the upper band of the falling channel on the daily chart.

In addition, price closed above previous session’s high.

Momentum indicator RSI (14) has found resistance at the overbought zone.

On the above technical studies & parameter, we are expecting upward move towards 58.50.

Click Here - http://ow.ly/196f30hUN4p

Please refer disclaimer at http://www.choiceindia.com/disclaimer.aspx

Choice International Ltd
Published on, 22/01/2018 11:39:58 AM

GBPINR

Technical View:

On the daily chart GBPINR price has sustained above range-bound pattern which suggests bullish reversal.

Price also moved above previous peak which suggests growing optimism.

Price has moved above the middle Bollinger band. Moreover, RSI (14) is in bullish crossover.

As per the above technical structure, we are expecting bullish move in the pair towards 89.50 levels.

Click Here - http://ow.ly/196f30hUN4p

Please refer disclaimer at http://www.choiceindia.com/disclaimer.aspx