Forex Market News

EURINR – Ways2Capital

EURINR trading range for the day is 79.67-80.7.

Euro remained under pressure as both growth and inflation in the eurozone remain below the European Central Bank’s expectations.

Weak manufacturing data from Spain, France, Italy, and Germany, weighed on euro on pace for its worst day against the U.S. dollar in more than six months.

The European Union was trying to find a solution to Italy’s budget problems in order to avoid a sanctions procedure, European Economic Commissioner Pierre Moscovici said.

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USDINR – Ways2Capital

USDINR trading range for the day is 69.91-70.9.

Rupee traded in range on reports government may announce direct benefit transfer or DBT and interest free crop loans to farmers.

The greenback surged as risk sentiment remained fragile over heightened concerns over slowing global growth and a partial US government shutdown

India’s infrastructure output grew at 3.5 percent in November from a year earlier, government data showed, its slowest pace in 16 months.

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Rupee Opens Higher At 69.96 Per Dollar

The Indian rupee gained in the early trade on Friday. It opened higher by 23 paise at 69.96 per dollar versus 70.19 yesterday.

Volatility in rupee continued to remain high but traded in a wide range of 70.05 and 70.40(Spot) for the second successive session. Global crude oil prices are inching higher in the past few sessions on signs of output cuts by Saudi Arabia, said Motilal Oswal.

In the last few sessions crude has been volatile by concerns that slowing global economic growth could dent demand but has drawn support from signs that Saudi Arabia is cutting crude output. Today, USD-INR pair is expected to quote in the range of 70.05 and 70.50, it added.

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JPYINR – Ways2Capital

JPYINR trading range for the day is 63.48-65.24.

JPY gained as dollar eased as caution prevailed on wider concerns about global economic growth.

BOJ Governor Kuroda: BOJ will continue powerful easing persistently.

BoJ’s Kuroda: Momentum to 2% inflation is firmly maintained, still uncertainties remain for the impact of a tax hike.

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GBPINR – Ways2Capital

GBPINR trading range for the day is 88.54-89.95.

GBP remained supported as weak dollar prompted some investors to cut their large bearish bets against the British currency.

UK Officials are warning EU members that a ‘no-deal’ Brexit places high risk of financial disruption to banks.

UK PM Theresa May states she has not received notice that 48 letters required to trigger no confidence vote were submitted.

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EURINR -Ways2Capital

EURINR trading range for the day is 79.67-81.21.

Euro gained as dollar dropped on wider concerns about global economic growth, the U.S. government shutdown and a slower pace of Federal Reserve rate hikes.

Inflation in Germany’s most populous regions slowed in December, just as the European Central Bank ended a crisis-fighting bond purchase scheme after four years.

Spain’s consumer price inflation slowed more-than-expected in December to its lowest level in eight months, preliminary data showed.

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USDINR – Ways2Capital

USDINR trading range for the day is 69.47-70.88.

Rupee dropped on likely outflows from local stocks and on concerns over emerging geopolitical risks and global economic growth.

India’s infrastructure output grew at 3.5 percent in November from a year earlier, government data showed, its slowest pace in 16 months.

India exempts rupee payments for Iran oil from hefty taxes – government order.

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