USDINR CURRENCY TODAY :
* USDINR trading range for the day is 70.33-71.09.
* Rupee gained slightly after the Reserve Bank of India kept its benchmark repo rate unchanged at 6.50% while reducing its inflation target for H2 2019.
* The central bank said starting in the January-March quarter of 2019 it would begin to lower banks’ mandatory bond holding ratios by 25 basis points each quarter.
* India’s economic growth fell to a worse-than-expected 7.1 percent in the July-September quarter, dragged down by a slower consumer spending and farm growth.
>> BUY USDINR ABV 70.65 SL BELOW 70.45 TGT 70.80-70.94. (BTST)
EURINR CURRENCY TODAY :
* EURINR trading range for the day is 79.22-81.14.
* Euro dropped on increased demand for US Greenback but downside move was limited thanks to US yield curve inversion.
* Eurozone producer price inflation accelerated further in October, defying expectations, figures from Eurostat showed.
* Eurozone’s consumer price growth slowed to its lowest level in three months in November and the core inflation unexpectedly eased.
>> SELL EURINR DEC 2018 @ 80.55 SL 80.80 TGT 80.38-80.10. NSE
GBPINR CURRENCY TODAY :
* GBPINR trading range for the day is 89.41-91.02.
* GBP remained under pressure after PM May’s government was found in contempt of parliament for refusing to release its full legal advice on Brexit
* The government lost a vote in parliament that could reduce the likelihood of Britain leaving the EU without any deal.
* May’s spokesman said the government is not going to revoke its notice to quit the European Union.
>> SELL GBPINR DEC 2018 @ 90.40 SL 90.70 TGT 90.20-89.80. NSE
JPYINR CURRENCY TODAY :
* JPYINR trading range for the day is 62.38-63.12.
* JPY traded in range as the dollar remained under pressure after the U.S. bond market sent worrisome signs about economic growth overnight.
* BoJ’s Wakatabe: Can’t deny chance of prices not rising easily. Sales tax hike poses a risk to economy, inflation
* BoJ’s Wakatabe: Downward pressure on economy could prompt deflation, BoJ will continue easing to raise inflation
>> BUY JPYINR DEC 2018 @ 62.90 SL 62.60 TGT 63.10-63.30. NSEAFTER POST CONTENT
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