Forex Currency market of India – Technical Analysis Today : 03/12/2018
USDINR trading range for the day is 69.58-70.24.
Rupee traded higher tracking the weakness in greenback after Federal Reserve Chairman Jerome Powell mentioned that US interest rates were just below neutral.
Investors remained cautious ahead of crucial summit between US President Trump and his Chinese counterpart Xi Jinping on the sidelines of the G-20 summit.
Investors turned cautious regarding aggressive Federal Reserve interest rate hikes after Chair Powell expressed dovish stance amid dismal US economic data.
EURINR trading range for the day is 79.37-80.1.
Euro traded in range as the greenback gained modestly as investors continued to digest comments from Federal Reserve Chairman Jerome Powell.
ECB says financial market vulnerabilities have increased since May, adds that downside risks to global growth outlook more pronounced.
European commission denies Oettinger said he expects US tariffs on cars before Christmas, but did state that he is concerned that tariffs may come soon. # GBPINR trading range for the day is 88.69-90.1
GBP dropped amid growing concerns about the UK parliament’s vote on Brexit.
The Bank of England warned of risks to the currency if Britain leaves the European Union in a disorderly manner.
British consumers’ confidence fell to its lowest level in almost a year as their view of the economic outlook for the next 12 months sank.
JPYINR trading range for the day is 61.47-62.08. # JPY dropped as the dollar bounced back slightly ahead of the G20 summit.
BoJ’s Masai: Encouraged by strong capital spending, will keep looking carefully at protectionist moves *BoJ’s Policy Board Member Takako Masai: Need to look at costs and benefits of policy, long-term low rates affect bond market functioning
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