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Achiievers Equites Ltd

Published on 20/02/2019 2:10:25 PM

MARKET UPDATE - 

* ECB Praet: Normalisation of central bank instruments not akin to policy tightening
* China says that it won't use exchange rate as a tool in trade dispute
* BOJ Governor Hariko Kuroda: Don't believe currenct BOJ policy is weakening Yen.
* BOJ Governor Hariko Kuroda: No one decides currency levels. Currency rate decided by various factors. Yield spreads can affect currency levels. 
* Japanese Economy Minister Toshimitsu Motegi: Trade discussion with US is yet to start. 
* Japanese Economy Minister Toshimitsu Motegi: Trade issue will be discussed by myself and Lighthizer

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Choice International Ltd

Published on 20/02/2019 11:16:59 AM

Buy USDINR @ 71.30 SL 71.12 TGT 71.55

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Mansukh Securities & Finance Ltd

Published on 20/02/2019 11:08:28 AM

BUY USDINR FUT ABOVE 71.34 ( AVERAGE AROUND 71.15-71.12) SL BELOW 71.05 TGT 71.46-71.58-71.75

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Tradebulls Securities (P) Ltd

Published on 20/02/2019 11:00:46 AM

(CurrencyDesk) Intraday call:-Sell EURUSD at 1.1357-1.1359 TGT 1.1330 Stoploss 1.1380 (Tradebulls Research Desk).

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Angel Broking Pvt Ltd

Published on 20/02/2019 10:21:35 AM

GBP

GBP rose against USD by 1.09 percent yesterday while GBPINR depreciated by 0.98 percent. CPI from UK came in at 1.8 percent against market expectations of 1.9 percent for Jan’19. UK business minister Richard Harrington said that the UK Parliament would take control of Brexit if PM May can't pass a deal next February 27. PM May´s spokesman said that the PM is still looking to reopen the withdrawal agreement, with no signs that EU officials are willing to do so. Meanwhile, average earnings index from UK came in at 3.4 percent for Jan’19 against market expectations of 3.5 percent.

GBPINR is expected to depreciate in today’s session

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Angel Broking Pvt Ltd

Published on 20/02/2019 10:21:19 AM

Euro

EURUSD appreciated by 0.28 percent yesterday while EURINR depreciated by 0.07 percent the same time frame. German GDP came in at 0 percent against market expectations of 0.1 percent. In line with other negative data sets, German industrial production data also came in at -0.4 percent against market expectations of 0.8 percent. German economic sentiment came in at13.4 for Jan’19 against market expectations of -14.1. Meanwhile, Concerns hit the common currency as US President Trump intends to put tariffs on cars' imports, which will affect the EU's industry.

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

Click Here- http://ow.ly/siEI30nLmYk

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Angel Broking Pvt Ltd

Published on 20/02/2019 10:20:56 AM

Indian rupee

Indian Rupee appreciated by 0.11 percent yesterday while the Dollar Index declined by 0.4 percent. CPI from India came in at 2.05 percent for Jan’19 against market expectations of 2.48 percent. Manufacturing production from India came in at 2.7 percent for Dec’18 against -0.6 percent for Nov’18.

US President Donald Trump declares national emergency over Mexico border wall funding. Core retail sales from US came in at -1.8 percent for Jan’19 against market expectations of 0 percent. Meanwhile US President said on Tuesday that rade talks with China is highly complex but are progressing very well and again indicated that Mar 1 deadline for raising tariffs can be extended. US FED meeting minutes will be announced tomorrow.

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

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Choice International Ltd

Published on 20/02/2019 10:17:41 AM

EURINR

Technical View:

EURINR has continued the gain by 0.54% on Monday.

Moreover, pair has given “Falling wedge” channel breakout , which suggest upward trend for near term.

Furthermore, pair has been trading above “Parabolic SAR” , which suggests upward trend for near term.

On a hourly chart, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart.

So based on the above studies, we expect bullish movement in EURINR (Feb) future towards 81.40 level.

Click Here-  http://ow.ly/57jV30nLmR9

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Choice International Ltd

Published on 20/02/2019 10:17:26 AM

GBPINR 

Technical View:

GBPINR has continued the gain by 0.90% on Monday.

Moreover, pair has given “Falling wedge” channel breakout , which suggest upward trend for near term.

Furthermore, pair has taken lower “Bollinger Band” support , which suggests upward trend for near term.

On a hourly chart, a momentum indicator RSI (14) and MACD has shown positive crossover on the daily chart.

Hence, we expect bullish movement in GBPINR (Feb) towards 92.80 level.

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Choice International Ltd

Published on 20/02/2019 10:14:56 AM

JPYINR

Technical View:

JPYINR has moved in range bound movement on Monday.

Moreover, pair has given “Symmetrical channel” breakdown on the daily chart , which suggests downward trend for near term.

On the daily chart, pair has retreated from upper “Bollinger band”, which indicates bearish movement in the counter.

Furthermore, a momentum indicator RSI (14) and MACD has shown negative crossover on the daily chart.

So based on the above technical aspects, we expect to bearish movement in JPYINR (Feb) towards 64.30 level.

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